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8 Comments on Fastest Way To Sell A Home?
It is true that having the price adjusted for the droping market will make it sell much faster.
Good Morning Stephanie
Thanks for the post. Have a great day
Hi Tim,
I can tell you that most bank reo listing are using this tactic and are selling in the Miami, Fl area on average 112% of the listed price..
The photo above is from a regular seller (non distress) and we priced it to sell and it did. We had 4 offers in 2 days and the seller went with the strongest offer. Actually we were the highest sold priced home in this community YTD..
So I will say it does work... If you know how to use it for your advantage.
This just supports the theory "price is everything" in selling a home in either good or bad markets.
Cliff, so very true.. I like how you expressed it....
Don't believe everything you read! Last I checked, CNN was in the business of providing news, and should NOT be considered experts in real estate. CNN has been accused by several independent media research firms that their reporting contains liberal editorializing within news stories as well as omission of important facts.
You cannot make a generalization that the "magic number" for selling a home is a 10% price reduction. If a home possesses superb curb appeal, is located in a desirable area, and has all the amenities a buyer is seeking, a home will sell within the market "norm" time-frame if priced appropriately.
Mike,
CNN is not an expert of Real Estate but the source for the article was an expert in Real Estate...
If this tactic of under pricing a listing to sell in less time and selling for more than listed why not use it..
If you have a seller list his home for fair market price and it takes 4 months to sell and let's say I list the same home and under price it and get it sold for 112% of the fair market price and in 5 days. What is better for the seller? The under priced tactic..
Why because the seller saves 4 months of mortgage payments, 4 months of property taxes (FL) and best part of all is the seller actually made 2% more than fair market price..
In today's Real Estate market agents need and must be ready to adapt to what is going to be best for their customers...
I think it's a great strategy, but it sure is hard to convice a seller to go that way. They always want to price it too high so the buyers can haggle down a bit. So many sellers are just hoping to get more than it's worth.