Are You Selling Your Home or Just Helping Your Neighbors Sell Theirs?

By
Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission

There are a couple of kinds of people who help their neighbors sell their home.

The first kind is the neighbor we all want to have.

Their yard is perfectly landscaped, the trash cans are never left out by the curb, the cars are tucked safely into the garage instead of parked on the street, they don’t have dogs that would even think about barking or cats that consider your garden a litter box.

They are friendly, courteous and can’t wait to tell anyone they meet what a great neighborhood they live in, including the people who are considering moving to the block. They are the cheerleaders for the community, make everyone feel welcome and are the best advertisement for a new neighbor you could ever hope for.

Couple Sitting On Bench Outside House

The second type of neighbor is just as nice.

Although they are trying to sell their home too, they still love their neighborhood and they are going to miss their friends after they relocate. They also take great care of their lawn and wouldn’t even think about allowing home maintenance to go undone.

Beautiful flowers by the front door, a freshly pressure washed sidewalk and driveway and a butterfly garden that would make the greenest of thumbs envious.They are friendly, courteous and…

…their home is way over priced for the neighborhood.

Now, if I was selling my house, I would want both of these types of neighbors. Heck, I’d love to have them anyhow.

But, if I had to choose just one, I would definitely cross my fingers and thank my lucky stars for Mr. and Mrs. Overpriced.

Why, you ask? Because no matter how lovely the landscaping, no matter how shiny the fixtures, how new the appliances, how clean the floors, how uncluttered the closets and cabinets and how nice the people…overpriced is still overpriced - and usually serves to make your neighbor’s homes look like much better deals.

Buyers are doing a lot of research before making offers on homes and you can bet that if your price is significantly higher than the others in your neighborhood, you are at a disadvantage.

So, are you priced right or are you just helping your neighbors sell their homes?

Run your free report of home values in your New Orleans West Bank neighborhood

 

Originally published at West Bank Living

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Re-Blogged 10 times:

Re-Blogged By Re-Blogged At
  1. Marilyn Boudreaux 06/20/2010 05:37 PM
  2. D B 06/21/2010 08:24 AM
  3. Wanda Thomas 06/21/2010 08:35 AM
  4. Susan Gaieski 06/21/2010 09:46 AM
  5. Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team 06/21/2010 10:58 AM
  6. John Elwell 06/21/2010 11:17 AM
  7. Duane Murphy 06/21/2010 11:36 AM
  8. Deborah Byron Leffler BzyBee Real Estate Lady! 06/21/2010 01:19 PM
  9. Sally English 06/21/2010 11:50 PM
  10. Kerry Lucasse 06/22/2010 04:55 PM
Topic:
Home Selling
Location:
Louisiana Orleans Parish New Orleans
Groups:
Keller Williams 'Rainers
Louisiana Real Estate
Keller Williams Active Rain Bloggers
Louisiana Lagniappe
Advice for Sellers
Tags:
home selling tips
new orleans west bank real estate
overpricing your home

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Rainmaker
413,093
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Richard, there will always be sellers who overprice.  I just want to list the other houses on their street ;)

Sally, yep!

Dawnita, I like that!

Nate, with the market the way it is in so many areas, I find that more and more agents are running instead of spending time marketing homes that don't have a shot at selling anywhere near the list price.

TLW, yikes!  That's a huge gap between list and reality.  I wouldn't want to be the one delivering that news.  Oh, and I love that song - memorized all of the words years and years ago when I had more brain cells.

 

Jun 21, 2010 11:58 AM #27
Rainer
208,834
Kymberly Caldwell-Muniz
(909) 973-0410 - Fontana, CA
TCR Group Keller Williams Realty Rancho Cucamonga

Hi Lisa, I like John love having the listings next to M/M overprice. I had the other kind of neighbors whereas they bought one of the nicest homes on the street and two years later it has gone downhill.

Jun 21, 2010 12:00 PM #28
Rainmaker
232,985
Susan Thompson-Solomons
Berkshire Hathaway Home Services McNelis Group Properties - Solomons, MD
Southern MD Real Estate-Solomons Specialist

There have been a lot of blogs on pricing - overpricing - in particular lately. I think your points best express the reality of overpricing. If anything should drive it home to a seller - maybe, and I know there are many who can never be convinced - but this should have a shot.

Jun 21, 2010 12:06 PM #29
Rainer
92,111
Kathy Kenney
Keller Williams, Princeton, NJ - Robbinsville, NJ
Realtor - Princeton & Central NJ Homes for Sale

So true!  Who wouldn't want to list the best house on the street and next to an overpriced listing!  Sounds like a slam dunk! 

Jun 21, 2010 12:52 PM #30
Rainer
152,258
Anna Tolstoy
Coldwell Banker Residential Brokerage - Natick, MA

Lisa, thank you for wonderful post! I laughed and learned, and you made my evening :)

I have wonderful neighbors, and hope they don't sell and move out before we do! (their kids are older than mine, so there's a chance...)

Jun 21, 2010 03:03 PM #31
Ambassador
890,780
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

And a lot of times, that 'perfect but overpriced; home can draw them into the neighborhood to see YOUR home... 

Jun 21, 2010 03:09 PM #32
Ambassador
685,194
Rob Lang
At Home Kansas Team Powered by Keller Williams Partners Inc / www.AskRobLang.com - Lawrence, KS
Local Expert in Lawrence Kansas Real Estate Homes

Funny how nice some people are.  Thanks for the perspective and for sharing this post.

Jun 21, 2010 04:08 PM #33
Rainmaker
1,363,996
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

That's a neat way to put it. I may just borrow that verbiage. Thanks for the post!

Jun 21, 2010 04:39 PM #34
Rainmaker
237,435
Jerri McCombs
Hendersonville NC Relocation - Hendersonville, NC
Hendersonville NC Relocation

So true. Any neighbor with an over priced home helps sell the house next door. Neat or not. I want all of my listing to have over priced homes next door.. Ha!

Jun 21, 2010 04:41 PM #35
Rainmaker
295,462
Sally English
The English Team - Atlanta, GA
Sally English Atlanta Real Estate Agent

Definitely worthy of a re=blog.  Thanks.  Gredat article for sellers!!!!

Sally English

Jun 21, 2010 11:49 PM #36
Rainer
278,100
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

I have this conversation with sellers so frequently and talk about just that fact.."Don't let this happen to you. You will actually help your neighbor sell their home if you are overpriced."  Most of them get it...

Jun 22, 2010 12:46 AM #37
Rainmaker
537,003
Karen Rice
Davis R. Chant, REALTORS - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

Nicely done Lisa.  So many sellers refuse to realize that they are waaaaaaaaaaay over priced.

Jun 22, 2010 01:13 AM #38
Rainmaker
413,093
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Thanks everyone!  It seems like we are all battling the overpricing monster in all of our markets.  It's just a fact of life that not every seller is going to be realistic, but I keep trying :)

 

Jun 22, 2010 06:58 AM #39
Rainmaker
307,518
Ryan Hukill - Edmond
ShowMeOKC Real Estate Pros of KW Elite - Edmond, OK
Realtor, Team Lead

Right on! I'm sure glad many of my 'competitors' don't mind taking overpriced listings. Helps me sell mine faster and makes me look that much better.

Jun 22, 2010 08:34 AM #40
Rainmaker
317,467
Susan Brown
Keller Williams NE, Kingwood Texas (Humble & Atascocita too) - Kingwood, TX

Lisa - Love it!  I am going to use your line - if that's okay with you - on my pre-listing presentation.  I think that is a powerful statement.

Jun 23, 2010 04:54 AM #41
Rainmaker
413,093
Lisa Heindel
Crescent City Living LLC - New Orleans, LA
New Orleans Real Estate Broker

Ryan, I didn't think about it from that angle!

Susan, borrow away :)

Jun 23, 2010 11:17 AM #42
Rainmaker
217,453
Mark Organek
And the United States of America - Mesa, AZ
On a journey to accomplish one huge goal.

Lisa, great post.  Because of the stager that I use and the type of investors on fix and flips that I work with, we are usually higher than any comparables out there.  We actually hope that new listings price off of ours to support comparables when it comes time for an appraisal.  It's a tricky game we play but it does give me the right to market this fact to others in the neighborhood when it goes under contract.  Overall, your post is right on the money.  Mr. and Mrs. Overpriced helps out a ton!

Jun 25, 2010 04:06 PM #43
Rainmaker
807,139
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Hi Lisa. Very well written post. And congrats on the featured post. Have a great weekend.

Jun 26, 2010 11:03 AM #44
Rainmaker
137,563
Mary Kay Hopkins
Mary Kay Hopkins, LLC e-PRO, GRI, CRS, CRB - Lake Charles, LA
e-PRO,GRI,CRS

Lisa, struck a bunch of button, here! Thanks for a great post on a most important topic."...overpriced is still overpriced..."

Jun 29, 2010 07:02 AM #45
Ambassador
2,863,919
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I'm contantly sending my sellers updates on the other homes for sale in their neighborhood.  It pays to be under the competition.  Most sellers appreciate and listen.

Jun 30, 2010 04:17 PM #46
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Lisa Heindel

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