But That Means We Priced Too Low Right??

As we were driving to the house we live in now, my husband was sputtering something about not offering full price.  5 minutes later when we saw the house and the property,  we were discussing a contingency free offer and escalation clause.  LOL   I still laugh about his misconceptions before even seeing the house!

Martha,

When a house sells within days of listing it usually is an indication the seller used the right agent who knew the local market well. Kudos to the LA for representing the seller's interest well.

I bet that was a shocker when your Husband said that! Very well written post Martha, and spot on!

This is a popular misconception for sure.  You stated the reality:

"Selling one's home quickly does not mean that you gave your home away and left money on the table."

I agree 100%. Correctly priced property should sell quickly. If the decision has been made time to go for it.

Martha, tell hubby that if it sells right away, he needs to thank his lucky stars and give his Realtor a big hug and kiss!

Martha - this is what we try to achieve - an offer on day 1. However, the sellers think otherwise. If we set the expectations right on day 1, it works - partially, though.

I just pretend that the seller is actually saying 'Thank you for doing your job well and selling our home quickly.' :)

Funny when those sellers that need to be educated are at your dining room table.  Good that he took it with the first lesson being imparted and sticking.

Good luck with the sale.

I gauge expectations with many sellers and let them know that we'll probably get it under contract right away.  The real works starts after that, especially if there is a loan being processed. I don't get paid to sell homes. I get paid to make sure it closes, preferrably on time.  Best of luck with your sale and downsizing.

If you get an offer right away, you priced it perfectly!  That's the goal.

I've had this conversation many times with sellers.  If we price it to sell, it will sell quickly.  If we price it too high, it will sit.  

Human nature...We get what we want and then WE question it? I have had this happen and the greed process can be over=whelming...What helps is when you  look at it as a mission to be accomplished and not a cow to be milked until dry

IMHO that means it was priced just right.....not too low at all.

This is a well written explanation about pricing and quick sales, Martha!  I also like Carla's #20 comment!

So right Martha! If you price it above market value, you're just going to sit there and your potential buyers will lose interest!

I prepare sellers for quick offers and multiple offers when their home is priced right.  I also explain the caveats of pricing a home too high.

Martha, congratulations, sometimes a home will be priced just right and still can sit there for couple of months or more. I listed a half acre about a month ago, placed a nice post sign and I thought it was going to sit there for couple of years. I had agreed to list a little higher than it should had been, but the seller had agreed to lower within a month at the price I recommended. To my surprise, we received an offer within seven days at my recommended listing price; my seller accepted. Listings are like a box of chocolates:)

I prepare my sellers for their home to sell quickly.  That is the goal.  We don't want to sit on the market for months and months.  So, it would make sense that we should receive an offer in short order for close to the asking price.  All of the buyers had seen what the market had to offer, then boom.  Your listing came on the market and it was the "new kid on the block".  Everyone rushes to see it and you are under contract in no time.  That is how we want them all to work, right?  Or maybe that is just me.  :)

Martha, that thought process gave way after the bubble burst and now I see all of real estate as a competition.  Getting that early offer tells me that we're the #1 Contender which is exactly what I would want to be!