What are the Negative Effects of Changing the List Price of Your Boca Raton Home?

What are the Negative Effects of Changing the List Price of Your Boca Raton Home?As a real estate agent it’s our responsibility to help provide as much information to our clients in every way possible. KCM or Keeping Matters Current, a source for what’s happening in the real estate market, shares the latest trends and offers useful tips for home buyers and sellers.

A few months back the KCM blog featured a post by Ken H. Johnson, Ph.D., Florida International University & Editor of the Journal of Housing Research. The post answers a very important question that most sellers need to understand before listing their home on the market. Can I list my property at a higher price initially and then adjust the price if it doesn’t sell? Is this the best way to price a home for sale? Are there adverse effects from changing the listing price of your home? This question has been troubling real estate professionals as well as sellers for years.

Ken H. Johnson, Ph.D., reviewed the scientific research conducted by John R. Knight. Knight investigated the impact of changing a property’s listing price. The research indicates that, on average, properties which experience a listing price change (up or down) take longer to sell and suffer a price discount greater than similar properties. And, further research shows that bigger price changes are found to experience even longer marketing times and greater price discounts.

The bottom line is that sellers as well as Realtors® should be aware of the necessity of getting the listing price correct from the start. Joy Mastropieri and Larry Mastropieri utilize three comprehensive Palm Beach County, Boca Raton data sources to provide you with the Highest Asking Price the market will bear for your Boca Raton home. You’ll gain a clear understanding of the market in your Boca Raton neighborhood. And, with The Ultimate Listing Campaign’s unparalleled marketing, pricing, timing and staging strategies, you’ll get your Boca Raton home sold for the most money and within a reasonable amount of time.