IS YOUR HOUSE PRICED TO SELL?

By
Real Estate Agent with Howard Hanna Real Estate Services

"I'm going to price my property higher than what I expect to get because it's smart to leave room for negotiation."

On a good day savvy sellers relied on their real estate agent's Comparative Market Analysis to price their house. With the expectation that prospective buyers will negotiate on price, many sellers often created a sort of buffer zone by padding the price a liitle, and sometimes by a lot.

This is a bad idea in today's buyer's market where thoughtfully priced houses in good condition sell and overpriced ones do not.

PRICING TOO HIGH

Every venue has its own customs. There may be less harm for instance overpricing your house, for a short time, in a robust seller's market wherever that is these days. You might even get lucky. But most markets today are controlled by buyers so don't play games. You need to nail the asking price and maybe add on a few percentage points.

"So, just bring me an offer," is what some sellers might say. Again, bad idea! An overly aggressive price actually deters many buyers from ever submitting an offer.

FIND A HOME: http://markostrovsky.com

Posted by

Mark & Elly Ostrovsky

Howard Hanna Smythe Cramer

Cellular: 216.577.1156

EMail: EllyandMark@GMail.Com

Website: http://MarkOstrovsky.Com

 

Mark is a licensed attorney in Ohio & in Massachusetts and works with his wife Elly in residential real estate representing buyers and sellers in Cleveland, Ohio's Eastern suburbs. You can search for homes on their website:

FIND A HOME: http://markostrovsky.com/

 

 

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Rainer
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Craig Richardson
National Realty - McLean, VA

Mark, chances are the answer to your headline is "yes."  Tough message to get through to sellers these days.

Jan 25, 2010 07:11 AM #1
Rainer
41,331
Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

Craig, I suppose many would say "yes" of course. The frustrating part is when they're given solid information to the contrary from their agent and from prospective buyers and they still say "yes."

Jan 25, 2010 07:16 AM #2
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Rainer
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Mark L. Ostrovsky

Howard Hanna Real Estate Services
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