Over Priced Listing 101- 5 Steps to Prepare Your Home For Market
Three or so months ago a couple called and asked me to visit with them about listing their home. Before meeting with them I did a thorough market search and clearly knew the home had been over-priced for a very long time. It had been listed for well over a year with a few insignificant price reductions. The final list price on it, before it had expired, did NOT get the home sold and was still way too high.
After meeting with the couple and talking with them for awhile I explained to them why
they would not likely realize $75K more than the market would bear. First of all, the house was not properly prepared, in fact it showed poorly. Secondly, there simply were no other properties that had sold in the area for over a year or so that were anywhere near the price they thought they could realize. Thirdly, it had been poorly marketed.
We talked about what they needed to do to prepare the home for sale - and that was a very BIG list. They were anxious for me to list the home on the spot but I was not willing to do so. Why? Because there were no guaranties that they were ready, willing or able to do what was needed to get the home sold. And they still wanted to list way too high. I am pretty darn good at understanding peoples motivation and this was one of those times I knew I had to walk away.
Fast forward several months I noticed that they listed with another agent and it is, once again languishing on the market. They did not prepare the home for sale and they re-listed at the high list price that didn't sell the home for well over a year when it was previously listed. Why on earth they think it will now work out, I have no idea. The listing remarks say - seller is motivated and wants the home sold. I think not. I've been in this business a long time and my experience tells me that this home is not going to sell until the sellers are willing to do the following....
5 Steps to Properly Prepare your home for market
- Proper preparation of home
- Proper staging of home
- Proper pricing for the current market
- Proper marketing of the home
- Hire an agent that understands how to do all the above - properly
Over Priced Listing 101- 5 Steps to Prepare Your Home For Market
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