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7 Ways to Know If Your Kansas City Home Is Priced Too High

Kansas City Home

One of the keys to success with selling a Kansas City home is pricing the home correctly because, in today’s real estate market, every home buyer has the ability to look up home values for any property within a matter of minutes thanks to their smart phone or mobile devices.

If your home is overpriced this will result in you either receiving fewer offers, and less interest, on your home than you expected, or you may even sell your home for far less than what you wanted.

In this article we will cover 7 ways that you can know that your Kansas City real estate is priced too high.

#1 – Little Interest from Buyers

The first way to know that your Kansas City home is priced too high is if your house is received little to no interest since you originally listed it.

#2 – Your Home Hasn’t Received One Offer Yet

Another real way to know that your Kansas City real estate is overpriced, is if you haven’t received an offer on your home since your listing went live.

Understand that any home should receive at least one offer within a few days or weeks of the listing going live online so it’s fairly uncommon regardless if we are in a buyers’ market or a sellers’ market for a home to not receive at least one listing.

#3 – The Agent You Hired Recommended a Higher Price

When hiring a real estate agent in Kansas City, one of the biggest things that you never want to do is hire an agent who recommends that you sell your home for a much higher price than what it’s worth.

Remember that buyers are only willing to pay for a home what it’s really worth, so if your home is listed for let’s say $30,000 more than other comparable homes in Kansas City, this is a surefire way to guarantee that your home will stay on the market for much longer than you originally hoped it would and after a period of time your listing may expire or you will sell your home for less money than you wanted.

#4 – Your Neighbors Are Selling Their Homes but, You Haven’t Sold Yours

From the moment that you first sell your Kansas City home, it’s important that you keep an eye on other Kansas City homes for sale and pay close attention to how quickly those homes sell because, if other homes that were listed at the same time as yours are selling faster, this is also a clear sign that your home is overpriced because it’s taking longer to sell than other homes.

#5 – The Agent You Hired Has Spent Their Time Having Open Houses

As a homeowner remember that one of the most important things that you should do is hire a real estate agent who has a comprehensive marketing plan for your home instead of just recommending that you have a few open houses.

Most real estate agents in 2015 view open houses as being duds since at an open house it’s totally realistic to expect just about anybody to show up compared to professionally marketing a home online or off-line to the right audiences and having the ability to court the specific buyers who would be interested in your Kansas City real estate.

#6 – Low Internet Traffic to Your Online Listing

Since the dawn of the Internet age back in the 90s, the Internet has really changed the way Kansas City homes and real estate have been listed, that’s why another great way to tell if your home is overpriced or not is to take a hard look at how the traffic to your online listing is doing.

Ask your real estate agent if your home has received any inquiries online from other agents for buyers who have requested private viewings because, if your home has not received any inquiries within one week after the listings goes live this is another sign that you should consider lowering your price.

#7 – You’re receiving “Low Ball” Offers

Let’s face it, no homeowner likes to receive lowball offers after listing their house but, if your Kansas City real estate has received several low ball offers since your home listing has gone live this is a real sign that your listing may be overpriced and it’s time for you to consider speaking with your real estate agent about lowering the price of your home.

Sell Your Kansas City Home

Save time and money when listing your Kansas City real estate by hiring the right real estate agent the first time, contact arrow Realty LLC today by calling us at 816-956-5003 or click here to contact us online.

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Thanks for reading!

 

Arrow Realty, LLC

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