“Your Richmond home sold HOW fast? You must have priced it too low.”

Richmond Realtor Shannon Milligan at Home Sweet Henrico with Keller Williams Realty Richmond West

I don't know how many times I have heard that statement, but it always amazes me. We recently had a home for sale and after roughly 10 showings within the first two days, we received two offers during that time period. Now, the one offer was rather low and they probably would have come up in their offering but they never got a chance because... the other offer...well, it was a FANTASTIC offer. It came in exactly where the comparables were showing it would. In addition to the monetary value being spot on, it was a very "clean" offer with the only contingency being the traditional home inspection. Everything went smoothly and we closed one month later. Certainly it was a happy ending for all parties involved.

Was the home priced too low? Absolutely NOT! It was priced JUST RIGHT. If the home was truly priced too low, a conceivable scenario could have been multiple offers ending up in a bidding war. What really happened was when price met condition, the best outcome prevailed - a Sold home.

As famously quoted, "Success is where preparation meets opportunity." Sellers need to be prepared by selecting a knowledgeable Realtor who can help them set the correct price and direct them on how to make the condition of their home the best it can possibly be. If a seller does these things, they won't have to wait long for Mr. Opportunity to come knocking!

Thinking about putting your home in the Henrico County real estate or surrounding Richmond real estate market this spring? Need some advice on pricing your Richmond home? Contact me, Shannon Milligan, at Home Sweet Henrico with Keller Williams Realty Richmond West TODAY so we can get started on your preparation for success!

To begin your home search, please visit: Richmond Home Search

Shannon Milligan

Home Search Richmond VA

Keller Williams Realty Richmond West

6600 West Broad Street, SUite 150, Richmond, VA 23230

804-248-8207 (cell), 804-282-5901 (office)

www.homesearchrichmondva.com

 

 

 

 
This post has been included in Virginia Real Estate News Henrico County, VA Real Estate News
Post is included in group: Keller Williams 'Rainers
Post is included in group: VIRGINIA

9 Comments on “Your Richmond Home Sold HOW Fast? You Must Have Priced it too Low.”

FEB
05
2011

Great blog, Shannon. Oh, I have heard that over and over when I was the Broker of a large office in the very quick moving times when everything sold in a few days. I relate to that time rather than today, although it of course has not changed, because it was then I began telling my agents to make a joke about it in their presentations.

The Realtor can never be right, if it sells quickly than I should have gotten more for it. And if it takes awhile then The Realtor gave me bad advice.

Suck it up and go to the closing after pricing dead on!

Thanks, Katie
9:05am • #1
611,137 Points 14 Featured Posts Outside Blog Called Shot Master

LOL  isn't this a classic!?!?!?!    I agree with Katie...we can't win for losing !  I learned in a class a few years ago to say at teh listing appointment....with a laugh....you won't be upset with me if the home sells really quickly will you???   It does help to get comments like your blog post suggests!
9:08am • #2
529,408 Points 20 Featured Posts Outside Blog Called Shot Master

Hi Shannon,  Great Post!  I had that happen so many times, I tell the people this is the correct price to get it sold at and the comps support it.  People that say I want a higher price that when a contract comes in we can meet them part way are wasting alot of time on selling there homes.  The longer it is on the market they need to adjust the price and could be lower then we first told them.  People have a hard time believing that.

Again great post.
11:10am • #3
563,813 Points 11 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Funny... I agree with the other comments, you can't win for loosing... If the home sells too fast they claim it was underpriced, if it sells too slow, WE did something wrong... I have told so many sellers that you must price it right, then the first offer is usually the best offer... It amazes me how many don't listen and find out later when they take a much lower offer after 6 months on the market, that I was right. Oh well, at least some of them do listen!
11:53am • #4
259,990 Points 16 Featured Posts Outside Blog Called Shot Master

Thank you all for stopping by! It really is a catch 22!
4:20pm • #5
FEB
06
2011
383,234 Points 85 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Shannon - in this market, anyone who sells their home within the first month should count their blessings as long as the agent did the research and knows the market which any good realtor does. Agents aren't in the business to give homes away for a steel. Great post!
1:35am • #6
538,645 Points 6 Featured Posts

For a proerty that sold that fast, I applaud you and so should they!
10:12am • #7
259,990 Points 16 Featured Posts Outside Blog Called Shot Master

Kristine - Exactly right. I am there to help the clients get the most possible, in the lease amount of time!

Will - thank you!
12:09pm • #8
FEB
07
2011
596,286 Points 70 Featured Posts Outside Blog Called Shot Master

Shannon - LOL  While I'm not a Realtor listing property, I can imagine that a lot of sellers just don't get it that when a house sells quick is because it was priced right.
10:40pm • #9


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Shannon Milligan,your Richmond real estate agent with Keller Williams Realty, is lighting your way to home sweet home in the Metro Richmond Real Estate market. www.homesearchrichmondva.com


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