Pricing Strategies for Luxury Homes
In this video Garry and Chris from GoodLife discuss the different pricing strategies for luxury homes and their pros and cons.
If you're thinking about selling your home in the future, it's important to know the wrong pricing strategy can cost you both time and money.
When a home is not priced using the right strategy, it will often sit on the market for an extended period of time. If the homeowner is motivated to sell the home, you'll see them chase the price down the market, trying to attract buyers.
But the market senses the uncertainty and responds by forcing sellers to accept offers lower than had they priced the home right in the first place. Pricing the home requires more than simply understanding what the market will pay, it's using the right strategy.
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