Any Seller who has received an offer on their property immediately after listing it has certainly questioned whether they priced the property too low and left money on the table. So the question is how do you know whether you priced the property correctly?
First of all, all Buyers and Seller leave money on the table. The objective is to minimize your loss and maximize gains. Just because you received an offer from your first showing doesn’t mean the price was too low. The goal when coming up with a list price is to create a competitive environment among potential Buyers. Because some of these Buyers have been looking for an extended amount of time and missed out on other deals, they are highly motivated and know when a good home is priced right. This explains why good homes get snatched up quickly and often receive interest from multiple parties. In addition, a lower asking price can result in higher offers by creating competition, especially when the home is on the market for a short time.
So if you find yourself in the fortunate position of receiving an offer at your asking price shortly after listing your home, be thankful and know that you did your pricing homework and got it right.