Susan of Alexandria VA said this so well and believe me the answer is the same here in Annapolis Md too. Price it right and the offers will come.

Via Susan Haughton OLD TOWN ALEXANDRIA REALTOR® (Long & Foster REALTORS® OLD TOWN ALEXANDRIA):

woman with contract...and blame your agent for pricing your property too low. 

An offer on the first day could mean it's priced exactly right.  And a Buyer who has been in the market looking for exactly what you have to offer knows it when he sees it. 

If you have multiple offers the first day - the first few days - then there are several Buyers who have probably been looking for awhile and recognize a solid value when they see it. 

Or, they have been looking for a property like yours and there just hasn't been a lot of inventory.

But it doesn't mean you - or your agent - priced it incorrectly.

In fact, in many markets, including ALEXANDRIA VA,it's pretty hard to price a property too low - Buyers and their agents will know it's a really good value and several will pounce, sometimes leading to a multiple offer situation, which can escalate the price.

Sometimes, though, a multiple offer situation doesn't lead to an escalated price - and when more than one person is coming in below or exactly at your list price, then the market is trying to tell you something.  The market likes the property and thinks it is priced where it should be.

And when your property goes on the market priced exactly where it should be, you'll know soon enough.  A positive reaction to your listing doesn't mean the price is wrong or too low - it usually means you and your agent got it exactly right.

 

 

Some recent blog posts you may have missed:

DoD HAP HELPS UNDERWATER SELLERS

MONTEBELLO CONDOS FOR SALE

MONTEBELLO:  ALEXANDRIA'S BEST KEPT SECRET

TOWNES AT CAMERON PARKE AUTUMN 2010 UPDATE

STYLISH 2, 3 AND 4 BEDROOM TOWNHOMES IN TOWNES AT CAMERON PARKE

BEING PREPARED FOR RENTING IN OLD TOWN ALEXANDRIA

LOOKING FOR HOMES FOR SALE IN OLD TOWN ALEXANDRIA?

WELCOME HOME TO CAMERON STATION

WHAT IS LISTINGBOOK AND WHY WOULD I CARE?

 

Looking for a terrific real estate agent in ALEXANDRIA VA?  Let me GOOGLE one for you!

 

 


 

 
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About the Author- Martha Brown is a Certified Residential Specialist (CRS) whose passion is homes in the Annapolis MD area and surrounding communities. As a 3rd generation Annapolitan she writes about her experiences in and out of the real estate market. Martha has been a local Realtor(R) since 1992 of which all have been associated with Long & Foster Real Estate, Inc., the largest independently owned real estate company in the Mid Atlantic.

Martha would love to hear from you so give her a call any time. Sharing her Annapolis MD area expertise is her passion.  You can reach Martha at 410-440-7839 (cell) or 410-260-2800 (ofc)

 Martha@TheRealEstate-Lady.com

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Every effort has been made to assure that the information in this blog is as accurate as possible. Martha Brown of Long & Foster Real Estate, Inc. disclaims any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. This includes but is not limited to any information provided by third parties which is accessed through this blog via a hyperlink.

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2 Comments on Selling Your Home...Sellers, So You Received an Offer on Day 1? Don't Get Excited...

JAN
31
2011
257,502 Points 2 Featured Posts

It's damned if we do and damned if we don't isn't Martha.  Price the home correct, get an offer immediately and we are dumb for pricing it too low.  Price it too high, have it sit on the market for months and have to reduce price several times and we're dumb.  Ahhh, the life of the real estate agent.  Good post and best of luck to you.
7:54pm • #1
387,333 Points 30 Featured Posts Outside Blog Hit Router Called Shot Master

Martha, thank you so much for the reblog!  You are in one of the prettiest areas of the country!
8:09pm • #2


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Martha Brown Annapolis & Anne Arundel County

The Real Estate Lady

Annapolis, MD

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Long & Foster Real Estate, Inc

Address: 320 Sixth Street, Annapolis, MD, 21403

Office Phone: (410) 260-2800

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