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Is it possible to List your home a price that is TOO LOW?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

What happens when a buyer offers what the seller asks but the seller wont sell to them at that price? Before you scratch your head, There was a Manchester NH area home seller who was selling as a FSBO. They checked into MLS list only brokers. They wanted a biding war as they were told that would sell their home at the highest price. They set a real low asking price. Paid a good amount for a MLS only listings. Then waited.....

 

Only one offer came in. It was at their asking price. No contingencies and a cash sale. The seller who should be happy got full price, "SAID NO". They said they would not sell that low. After a back and forth with the buyer, a threatened lawsuit later, they admitted they priced the home low to sell it at a bidding war at a higher price. 

 

The cash buyer pondered his next move. The seller with no money for a lawyer panicked. They stopped to talk to me as i put up a sign. With apologies i could not offer legal advice. I could tell them the right way to sell and how to get the best possible price when listing it. They want to sell on their own still. They say they can not afford to hire a listing agent. I told them they can not afford not to. They wasted up front money on a discount agent who just puts the house in MLS. They got themselves into a legal mess and still wont list, but said if they do, they are coming straight to me. 

 

 

The MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

Comments(15)

Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

"The MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide clients through each step of the buying or selling process."
Well said - and those that think that all agents basically do the 'same thing' are in for a rude awakening!

May 30, 2018 05:11 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

There are no short cuts to marketing....no discounts for expertise...only lessons to be learned the very hard way.

May 30, 2018 05:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have had instances where a house was priced too low and when I took over the listing, I actually raised the price and got the properties sold quickly. It's always a delicate balance and pricing, as I've often said Scott, is as much an art as a science.

May 30, 2018 05:46 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

That is a dangerous game.  I think pricing it at the low end of market value is fine but too low is asking for trouble, if not done with some protections for the seller. 

May 30, 2018 07:51 AM
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Ignorance is the most expensive thing in the world.  We all have it, in different areas, I know nothing of brain surgery, but if I knew someone who needed it, I wouldn't say, "I saw this show on TV last night about it, let me give it a try".  

A local competitor has a great saying I'd love to steal, Experience isn't expensive, it's priceless.  

May 30, 2018 09:28 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Scott- sellers as well as buyers need to understand that in the long run, you'll save money by hiring a professional to do the work. 

May 30, 2018 09:30 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Bad strategies, cooked up without consulting a professional, can blow up in a seller's face.

May 30, 2018 11:45 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Thank you for the comment Maria Sapio 

May 30, 2018 12:53 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Exactly what i have been seeing and sharing reaching out to all the FSBO sellers Sally K. & David L. Hanson 

May 30, 2018 12:54 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have had that twice this year Nina Hollander and both with fsbo sellers that could not sell their own home. 

May 30, 2018 12:55 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Exactly what i was thinking and saying Carol Williams 

May 30, 2018 12:56 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I like that saying Dan Tabit , thanks for the comment

May 30, 2018 12:56 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is the best message i try to get acorss to consumers Kathy Streib , thanks for the comment

May 30, 2018 12:57 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

And that is what is happening here Chris Ann Cleland , thanks for the comment

May 30, 2018 12:57 PM
James Dray
Fathom Realty - Bentonville, AR

Morning Scott.

Excuse me for being so blunt, but what idiots.  I wonder if they will do their own appendectomy, to save themselves some money.

May 31, 2018 02:41 AM