You can price your house to sell, or not. Holey Cowabunga!! In our Pinellas Realtors Organization - in the last 10 days - there were 527 properties that expired!! It wasn't because the market is tight, or that buyers are fickle, it was because each house was overpriced. That is just about 10% of all the listings in our area. As Realtors who take pride in pricing our properties correctly, we want to offer a great big thank you to those sellers who deliberately overprice their properties, thus making it much easier for buyers to recognize that properly priced houses really are good deals.
When we price houses, we price them to sell, not to sit on the market getting stale. Time and again we see sellers putting their homes for sale at premium prices, often so far above the market that when people do look at them, the comparison to other houses which are appropriately priced makes the over-priced house look completely inferior. The sellers often say, "We need room to negotiate." Well, it is very easy to negotiate nothing.
The challenge is negotiating a well priced home with several offers instead of twiddling our thumbs waiting for that one "cash buyer who will make an overpriced offer". Generally, cash buyers have cash precisely because they do not overpay when buying real estate.
The best way to get your house sold is to pay attention to the market and your Realtor.
In summary, to those seller who insist on picking a price from thin air, instead of using solid market information, thank you for helping us to sell our properly priced houses.
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