Does Listing Price Matter?
Are you sick of being told the reason your home didn't sell was because it was overpriced? The reason homes don't sell is not always because of the price. It's usually because of the home was not marketed properly.
It isn't easy to sell something for full market value. After all, buyers are all looking for a deal, and shoppers have more information at their fingertips than ever before. You might need to negotiate the price with a buyer, bur good marketing will help to bring you a full price offer.
Here is an example. John was trying to sell his house, hired an agent to help him sell it and put it on the market for $1,399,900. The agent woked at a reputable firm and made a good effort to sell John's house.
The pictures of the house were top notch quality, the marketing of the house was first class. The home was advertised extensively online and other marketing venues. The agent held an open house, yet the agent efforts failed to attract a buyer.
Joh's agent suggested he adjust the price, after all most similar homes in the area were price around $1,300,00 to $1,350,000, he recomende. dropping the price to $1,350,000. John owned one of the nicest house in the area and his home has many features that the other didn't and he was reluctant to reduce the price and decided to cancel the listing with that agent.
John' hire another agent who also failed to sell the home and also offer the same "advice' reduce the price. At this point John have two options.
Option #1 Drop the price, most of the agents told him to do so to $1,350,000
Option #2 Hire an agent that could sell the home for what it was actually is worth. This agent marketing will need to get a buyer so excited about the home that they will be willing to pay full price.
New pictures were better than the first agent's pictures, the marketing was better, even more advertising than before. The agent didn't just do a regular open house, he also did broker's open house.
The agent looked at his house and could clearly see it was worth the price, The agent put the home on the market for the same price as the price as the previous agent did. Only this time something different happened.
Sixty-three days later the home sold for $1,380,000, What had the previous agents missed? Why did the two first agent failed to sell the home, while the third agent sold it with ease?
Houses not always sell for what they are "worth".
Sometimes they sell for more and sometimes they sell for less.
Comments(2)