Let's List High To See What We Can Get for Our Home
I lost a listing in Rogers Ranch (not named after me, at least as far as I know) because I didn't succeed in making the owner see that his house would not sell for what he wanted. At least, that was my understanding. I was referred to him by a friend, so I thought he would be open to my advice. However, the seller told me he chose another agent because he had a better "rapport" with her.
That listing agent put it on the market for about $70,000 more than what the sales comparables I showed him indicated would be realistic. Six months and three price drops later, the listing was canceled, and he still owns the house.
It was a nice home, but I'm not sorry I didn't get the listing. A listing that doesn't sell because it's priced too high wastes everyone's time, patience, and money.
Check out Jared's post:
A few weeks ago Amanda and I went to meet some sellers in Fort Wayne to discuss listing and selling their home. After we got the grand tour, we sat down at the dining room table to discuss the home selling process and what they should expect.
After a half hour of discussion, it was time to talk price.
The home was a nice ranch in Southwest Fort Wayne School District. It appealed to the masses and in our opinion, would sell quickly for $130,000. We recommended pricing it around $132-135,000 with the expectation of selling around $130,000.
The sellers looked at us like we were crazy.
Apparently they had received some advice from friends (not in the real estate business of course) that they should list it very high in hopes they can get more for it.
If we could get ALL of our sellers more money for their home, we would. If we listed this home for the $150,000 price that the sellers wanted, here is what would happen: Nothing.
A home in Fort Wayne that is THAT overpriced won't get showings. If by some miracle it does, and by a greater miracle we did get an offer for $150,000, or $145,000 or even $140,000... it won't even come close to passing the appraisal.
When we list a home, we are realistic with the sellers. Sometimes the news we deliver isn't good or isn't want they want to hear, but we aren't there to blow smoke and price homes at a point that just doesn't make sense for everybody involved.
We didn't get this listing, but we are okay with it. We wished them well and parted ways.
Whether you are buying, selling, downsizing, or relocating to Fort Wayne...
THE CHRISTIANSEN TEAM CAN HELP!
260.704.0843 or JaredChristiansen@remax.net
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