Are you serious about selling your home in the Madison Wisconsin area? Original article. Serious sellers need accurate advice
You are not alone. Real Estate Guy in Madison, understands that if you need to be moved, you need to hear the realistic facts about the market and your home's value so you can draw realistic expectations and make decisions based upon those expectations.
What do you mean?
Well, if i came to see your home and told you to expect $200,000 for your beautiful home and you made a decision upon that price, only to find out it was not 200 but 180,000. Now, for example you have accepted a new job and are committed, but going to lose $20,000.
So the home owner goes ahead and over prices the home and gets a smattering of showings, feedback is ok, but no offers. The agent lets this go on for 4 months and owner gets to keep home spotless and on market readiness all that time. Price is reduced, not just once, but twice, and three times. Now the price is actually lower than the home would have sold on day one. Home seller is probably mad at agent and that is no fun for the agent either.
Your Altenative scenario
Would you prefer an agent who came in and broke the news to you, gently, but firmly that $180,000 was your price and you should get it in 30-60 days. It is less than you were hoping, but you are convinced and you agree to that, You take a week to make final preps and then you get a bunch of very early showings, an offer or possibly 2, then you get the very best price and get to move.
Which scenario do you prefer? Yes it is easy to see the picture from afar, but when you are in the thick of things, it is more difficult, so easy to get tempted by the agent giving you the best price with confidence.
Time and time again, i am running up against agents who are over-estimating price. Not sure if this is over optimism, not knowing their market or just plain buying a listing, but it is a very bad practice, it hurts the home owner, it hurts the agent and it hurts the market. The only one it helps is the well priced home up the street. Sometimes i lose out, mostly the listing is then over prices and sits. other times i get the listing and a quick sale usually ensues.
More often than not when i consult with a seller, i am the bearer of bad news. But i not only go over price and preparation, i explain at length the dynamics of the market. If i make a good consultation and find understanding i will win out over an agent who is pricing higher. It is all in the dialogs, which i have gleaned from Training at Keller Williams Realty (Agents can read the book by Gary Keller "Shift").
So how do i know the exact price? I do not!! There i said it. I do not have a crystal ball and do not know which buyer is going to come along tomorrow and love the home. So i can be wrong - i am human after all! But i use a technique to dramatically increase the odds of success without losing the potential upside of a price war. That is Range Pricing. Many agents still do not understand this, but it works.
Remember Homes sell, rather well priced homes sell quickly, others just sit.
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