In today's market this is the choice facing most sellers. I have spoken to many prospective sellers over the past few weeks and I can only assume they have not been watching the news or listening to their Realtor. Now, don't get me wrong these people want to sell their homes. I'm just not sure they are prepared to sell in today's market.
I recently spoke with a couple that have a nice home for sale. They have kept the home well maintained and just spent almost $10,000 on a new roof. They paid almost $200,000 for this house three years ago...they believe the house is worth over $300,000 today. In speaking with them about listing their home they told me that they wouldn't consider a listing price below $315,000! After all, they weren't going to "give the house away" and...if it didn't sell, oh well.
Ok class...here's the question, Are they pricing to sell or pricing to sit? Wait you say...What are comparable houses selling for? How long are houses sitting on market? What's the competition in today's market? Well, they didn't care about those details and they are prepared to sit. I certainly provided them with all that information and spoke at length about the market today.
The question you really have to ask yourself is...if they are pricing to sit...what can an agent do for them?
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