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STRATEGIES FOR PRICING YOUR LAS VEGAS LUXURY HOME

Posted by Kenneth Lowman on August 29, 2014
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Sometimes asking less will get you more.  A recent luxury home seller played lowball.  He set his asking price below that of recent Las Vegas luxury home comparable sales – and he got six offers in four days!  It sold over the list price and in line with the recent comparable sales.  This unique strategy is all about creating a demand for your Las Vegas or Henderson luxury home.  When the price is low the demand becomes higher and luxury home buyers, fearing the risk of loss, overbid to capture their prize.  When you set the listing price of your luxury home, keep in mind the negotiating tactics and psychology that come into play.  Most Las Vegas luxury home sellers overestimate the value of their home and many agents will start high to avoid hard feelings or just to get the seller’s business.  This leads to luxury homes that languish on the market for months without any offer at all.  Then when a luxury home buyer is interested they make a much lower offer because the luxury home has been sitting on the market so long.  Sometimes the best strategy is to ask less and end up with more in a lot less time!

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