What Does It Really Mean When a Listing Says, "Price Improvement?"

What does it really mean when a Realtor promotes a "Price Improvement?" It typically means the original asking price was too high. This is often the result of:

1. The seller not understanding the market and thinking their property is worth more than it actually is.

2. The listing agent either not advising his or her seller correctly, not having done their homework, or not having the expertise in pricing to service their client effectively.

3. The market taking a drastic shift that would force the seller to respond with by lowering the original asking price.

Did you know that "price improvements" or "corrections," actually do more harm than good for the seller? In fact, lowering the price of the home is often done after a home has sat on the market for a longer period of time.

At Odyssey, we like to say that "the longer the property sits on the market, the more buyers assume something is wrong with it." With our effective pricing strategy, we not only conduct a thorough analysis of the current market conditions, trends, and impacts that may cause your home to sit on the market, but our Advisors are trained experts in pricing and may often recommend a slightly lower price than your current competition to make your home more desirable for buyers and actually give you a better chance of getting full market price or better!

Using this same strategy, we have often sold homes faster and over the owner's desired asking price.

For more information and to learn your options, please reach out to us and one of our trusted Advisors will schedule a time to meet, tour your property, and conduct a thorough analysis of your property.

Oh, and don't worry. Our Advisors are not going to try to sell you anything. They will simply gather information, learn your goals and ambitions, and provide you with fully transparent options so you can make an informed decision that works with your budget, timeline, and intentions.