What Does A Seller Reveal When They Want A Negotiation Cushion on the Listing?
I have been busy this past week with listing presentations. That's a good thing. The sellers have been attentive, have understood the comparables and the analysis, and have been reasonably receptive to the value of the house and the marketing plan offered. All was good until the time to set the value to list the house.
The arguments between the spouses was civil, but the tone was one of deliberately setting market price almost 10% higher than actual to allow for negotiations. The feeling being that they wanted the market price to be their net and have the costs of sale be the additional value thus having the buyer pay the sales costs.
Not at all practical and as the market in our area is still a very strong buyer's market, this tactic would be one to have the house languish on market and lose that initial surge it should get when first hitting the Internet.
In a seller's market, the price is not as critical as the activity on a clean, well presented house will dictate the demand and the potential for multiple offers is very probable.
In the buyer's market , still very much a part of our Connecticut real estate scene, the house will be passed over by potential buyers when they see the extent of the over pricing for the value offered.
We will ultimately get the house into range, but marketing time will have been lost, and with buyers as scarce as they currently are, that could be horrible for the sellers.
As difficult as the process will be to get the sellers into a viable price for selling, I shudder at the thought of where we will be when it comes time for them to submit an offer on their next purchase.
What Does A Seller Reveal When They Want A Negotiation Cushion on the Listing?
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