When a home's listing price is set too high, it can significantly slow down the selling process and deter potential buyers. One effective strategy is to price the home slightly below the current market value, typically around 10% lower. This can help generate more interest and potentially spark a bidding war, allowing the seller to achieve a higher final sale price. It's crucial to work closely with a real estate agent who has a strong understanding of the local market and can provide an accurate assessment of the property's worth.
Another helpful approach is to time the listing strategically. Research suggests that the best time to list a home for sale is on a Thursday between March 11 and March 18, as this can help the property sell quickly. Additionally, the week of April 22 is often considered optimal to maximize the sale price. While market conditions play a significant role, these timing recommendations can give sellers an advantage in a competitive housing market. It's important to avoid common missteps, such as pricing too low in the hope of sparking a bidding war, as this may backfire and result in the home selling for less than its true value.