Southern Maryland Best Buys

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Smart sellers pricing it right.

This says it so simply but says it so well. Along with preparation to sell, this is about the most important step a Seller takes sell their home. No amount of outstanding marketing makes up for an overpriced listing. The Buyers simply do not see it nor do they consider it. The Appraiser idea is the right idea on unrealistic Sellers.

Smart sellers pricing it right.

 

Did you know that overpricing a home can backfire on a seller? Here’s why.  Most buyers tell their agent what they can afford and not to show them anything over a certain price. They don’t even look at an overpriced home thinking the sellers will never come down in price. Some buyers may look at an overpriced home but will likely use it as a comparison for other homes.  Then folks by-pass the overpriced unit and buy the correctly priced home. So the unit just sits on the market and goes stale.

 

When the listing for the home expires, the next agent has a harder time selling it even if it is now priced right.  Folks will ask, “What’s wrong with this house?” knowing only that it’s been on the market for some time and did not sell.  Since it was out of their price range, they didn’t even know what the asking price was when it first listed. Buyers who were looking at the time the home was first put on the market may already be in contract on another home.

 

 

To price your property correctly, first call in at least three agents who have signs up in your area.  They are the local experts.  Ask each, “What will you do for me?” and compare.  Then just to be 100% sure, call in an appraiser, who will charge about $400 to get an opinion from someone who has no interest in the sale.  Now you know which agent is more knowledgeable in your area.

A job well begun, is half done!

Website  http://www.eltingvillehomesforsale.com/

http://www.kennethcolerealestate.com

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Comment balloon 3 commentsCheryl Ritchie • August 03 2013 05:53AM

Comments

Good morning Cheryl -

I happen to be dealing with unrealistic Sellers right now.  They think their home is worth more than it is.  They promised if I would list it at X price they would drop the price every 30 days.  Here we are at 70 days and we've had one small price drop they get very defensive when I try talking with them.  They don't get the fact that they have to be in another state no later than October!  Some get it ........ others don't.  I plan to speak with them again today......

Posted by John McCormack, AlbuquerqueHomes.com, Albuquerque Homes Realty (Albuquerque Homes Realty * www.AlbuquerqueHomes.com) about 5 years ago

Pricing it right depends on a realtor who really knows the market, and is willing to show the facts. I've recently seen a rash of homes in my area priced too low, and of course they were under contract in minutes, but the sellers gave up a lot of money by using a realtor of didn't know the market.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) about 5 years ago

Thanks so much for the re-blog.  I FEEL GREAT :)

Posted by Kenneth Cole, NYS Licensed Real Estate Salesperson (Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com -) about 5 years ago

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