- The number one reason is the agent's desire to take the easy way out. Please don't misconstrue what I am expressing. I have empathy and compassion for my fellow agents. We are requesting to handle individuals largest assets that they have emotional ties to which makes our job more complex than it seems. The reason agents allow owners to over price properties are numerous. They feel if they don't they will just lose the listing to another agent who will take an over priced listing.
A good agent will do their best to help but may back down when push comes to shove. After all its not our home and we can't insist or convince someone against their will. Does a better agent engage the client and only compromise on price if he gets a schedule of future price breaks if no offers are proferred?
Our role is to offer expert counsel and to persuade the client to act in their best interests. Have I really done my job well if I can't motivate the client to understand the art of successfully selling their home? Isn't the best time to get the highest price when it first comes out on the market?
This is a tough question to answer as somehow the desire to make more money is an emotional issue which is tied to psychological causes that we are not licensed to address. Yet any superstar agent, will truly understand human nature and maybe that's why they take the over priced listing.
Unfortunately in life, sometimes we all need to learn the hard way. To complicate matters overpricing in a deescalating market is a double edged sword. Not only does it not receive offers, become stale and invisible to the market usually future price breaks aren't sufficient enough to create real demand.
When you are trying to achieve anything in life that involves other people one would be wise to fully understand the other person's point of view. Buyers are demanding value whether they are purchasing low ticket or big ticket items.
The most successful brokers understand how to create win-win scenarios and allow people to feel they have been treated fairly.
You need to receive a bona fide offer in two to four weeks. Unless there are other issues such as decluttering, staging, condition, location, or an incompetent realtor.
The large majority of home owners also feel they need "room" to negotiate. To get top dollar you need to underprice the property 5 - 10 per cent below market value. This creates energy, excitement, enthusiasm, dramatic increase in buyer population, multiple offers, potential bidding contests, maximizes your roi, and allows you to proceed with your plans in a timely basis.
If you have any questions about this or any other topic please e-mail me at gerrymarina@gerrymarina.com or visit us on the web at http:// www.gerrymarina.com for more real estate tips, FAQ, info on short sales, buyer brokerage, and how to sell for top dollar in today's market.
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