Sellers thinking they can try for higher prices are only fooling themselves. The home new to the market has the most luster in the first couple of weeks. When a seller prices their home high, they are most likely to find their home is at the bottom of the list as far as buyers are concerned. And the buyers who normally could have purchased their home don't even look at it because it is out of their reach.
Once a home has been on the market long enough sellers feel they can simply lower the price, but statistics say that homes on the market for over 3 months have a 70% chance of not selling at all.
So what do we do as Realtors, well we try and tell the seller what his/her home is really worth, and what would make it sell quickly and for the most money, because in the first couple of weeks is when you get the most money. When you lower your price, you will have to lower it again and again. Thus not getting the highest price you could have gotten.
Most Realtors are afraid or inexperienced to tell the home seller this, and do the seller an injustice. I personally walk away from listings that are way overpriced, because for one, the selling of the home is not my problem, it is the problem of the seller, and secondly, it is my money and sign in their front yard getting all the bad press. I do not mean selling the home is the sellers' problem in a bad way, I simply mean it is more important for the home to sell for thier sake instead of mine.
So when pricing your home for sale, listen to your real estate agent, and when they agree with your price, get a second opinion from another Realtor, You will sell your home faster and for more money!
Comments(1)