There once was a time where Palm Beach real estate transactions were as easy as pricing a home for how much you wanted and getting an offer within weeks. Those days have come and gone and we are left with the sobering reality of a much more difficult housing market. With a glut of competition and a limited buyer's pool, the only way to be successful in the current real estate market is to be versatile. You may want to price your property above its value and sell it within weeks but you must be able to adapt to current market trends and make compromises accordingly.
Put yourself in a Palm Beach home buyer's shoes. You're searching for homes through a realtor or independently on the internet and you come across two properties that meet your exact preferences. One is your property that has three bedrooms and two bathrooms and is within walking distance from the beach and another property in your neighborhood with the same criteria only for ten percent less. That's an easy decision that gives your competition an edge and makes your property seem grossly overpriced. You can't afford to lose the few potential buyers that may meet your description. You need a plan.
Do research and figure out what your competition is offering, and not just price. If they are offering incentives as big as paying closing costs or as little as offering furniture you should know. When two properties are evenly matched, it's the little things that are the deal breakers. If you can one-up your competitors it puts your property at the head of a potential buyers list. If your competitor offers to pay half the closing cost, offer the whole closing cost and instantly gain the upper hand in your market.
Of course, the best way to sell a home is to get professional assistance. You can go it alone but a single small mistake could leave you trying to sell a home for years to no avail. Selling a home is just too important to leave to unprofessional guidance.
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