Skip to main content

How To Determine The Listing Price on Your Plymouth MI Property for Sale

Setting the listing price on your Michigan home for sale may be one of the most important decisions you’ll make as a Plymouth area home seller.

After all, if it’s too high, you’re not likely to attract very many buyers looking for the best price possible on their next home.

If it’s too low, you risk the chance of losing out on a profit that you could have made had you set the bar higher.

Determining the list price is definitely an art on the Plymouth real estate market.

Continue reading to learn the best way to approach setting your list price.

Plymouth MI Homes for Sale

Here’s the best case scenario for when you set the ideal price on your Michigan home:

  • You sell your home quicker and with less hassle
  • Your home enjoys plenty of showings – and thus, plenty of exposure
  • More Realtors call you to inquire about the home for their home buyers
  • You sell your home before it becomes stale on the Plymouth housing market.
  • Your sales price is pretty much identical to your asking price.

More often than not, however, Plymouth home sellers are overpricing their homes.

While we understand what an important asset their home has been in their lives, home sellers should avoid the temptation to overprice their home.

Generally home sellers will reason that their price is justified. Here are some common reasons for why home sellers overprice their home:

  • They’ve added plenty of upgrades to the home and overestimate how much value those improvements have added to the home
  • They feel their original purchase price was too high and thus are trying to recoup their losses.
  • They want plenty of room to negotiate down the price if necessary.

As a Plymouth real estate expert, I’m here to tell you that it’s best to set the right price on your home right out the gate.

Here’s what you risk if you set your home’s list price too high:

  • You may miss buyers who are searching in your home’s price range but they miss your home because it’s in another price bracket.
  • Because your list price is too high, you may not get an offer within the first few weeks of putting your home on the market, which is the critical time for an offer to come in.
  • Once you miss that window of opportunity, you may find that more and more buyers are wary of buying your home because they wonder what’s wrong with it that it’s still on the market after so long.
  • Even when you decide to make a price reduction, it’s not likely to attract as many home buyers. That’s because in the minds of buyers, a “New Listing” notice is much more attractive than a “Recently Reduced” notice.
  • You may actually help your neighbor’s sell their home instead of yours because next to your over-priced home, their home’s list price looks reasonable.

List Your Michigan Home With Us Today!

As noted before, setting the list price on a home isn’t an exact science. But it certainly helps to work with an experienced Plymouth area REALTOR who has a good understanding of how the local housing market works.

So if you’re a Plymouth area home seller, contact me, Noel Bittinger, today.

I’ll discuss with you the way in which I help sellers set a list price for their home as well as share with you my exclusive Plymouth marketing plan I offer sellers.

Until next time,



Leave a Reply

Your email address will not be published.