Hello homeowners, is this you? Do you like to dream like my boys? Everyone likes to dream and think about being something or someone they're not. For example, in the picture above my boys think they are fish in an aquarium, and while it was fun to pretend pretty soon they had to breath and come back to reality.
I'm not here to tell you that I'm the best Realtor out there, as a matter of fact I don't want your business. I drive down street after street and see the same home's for sale over and over and over. Whats worse is that you are listing with one agent and 3 to 6 months later you end up listing with someone else. Occasionally I'll even see a third or fourth Realtor sign go up in your yard. While you might think poorly of your previous Realtor(s) I want you to stop and think again.
Almost any Realtor can do a CMA (comparative market analysis) and they'll all be about the same. Lets say I came to your house and gave you a CMA with all the data, statistical analysis, charts, futures, and market outlook. Then I looked at your home and told you that you needed to price your home at $200K. I am pretty confident that what I told you is the price point that will sell your home in the quickest amount of time while netting you the most possible return. Unfortunately, I know that you will think your house is worth more and will not come down on your asking price which is why I wouldn't bother with the deal in the first place. Luckily for you there are a ton of Realtors and even though they all think your house is worth $200k, someone will sign with you. This Realtor will actually say, "yes Mr. and Mrs. Seller your house is worth $300K and I'll list it for that." You will love him or her and now you're living the unrealistic dream. You will see some of your neighbors selling their homes while some, like yourself, will be unable to sell. Soon your agent is going to start talking to you about lowering your listing price, and you will. You and the other sellers who are priced around you will start to come down little by little. Mean while new homes will be coming up on the market and they will be priced way to low in your opinion, but they will sell. When this happens, who will you blame? You will unfairly blame your Realtor for lack of marketing, flyer's, open houses, and anything else you can think of, all because you didn't listen to them in the beginning.
You fire your agent and hire a new one. This agent does all the same statistical analysis and now tells you that you need to list at $180K. You interview a couple other agents who have been poking around and find that they all have the same general numbers, but you still won't come down. Or you might come down a few thousand, but not enough to truly make a difference to a perspective buyer. The cycle continues, lower priced homes will come on the market and sell, you will be "pressured" to lower your price, you might even eventually come down a little more. While all this negotiating is going on, another lower priced home comes on the market in your neighborhood and sells.
AARRGGGGG!!! You fire another Realtor, 3rd try and this one better know what their talking about! He does his homework comes in and tells you based on Statistical analysis that you should price your home based on current market value. Did you catch what I said? "Current market value". I could go on and on. I'm not saying your dumb, or stubborn. What I'm telling you is to do your homework. Your home is not the retirement vessel that it was for the generations before you. You my friend, now own a home because it is The American Dream. Market cycles change and while your home could once again go up in value, it isn't going to happen soon. If you don't believe me do a little research on the ghost fleet of forclosures sitting in the vaults of banks. If you were scared before, you will be terrified after looking into this.
I want you to really study the market if your going to sell. And when you have studied the market, then I want you to call those Realtors and listen to what they say. The agent that comes backed with tons of data and graphs, and can back up what he says is not a fool, he is the one! When you do this and except it, you will have taken that breath of air, just like my boys. Now your not in the dream anymore, this is reality. This is what it will take to sell your house now. And you will sell it at that $200K and be happy that it is done and you are free. You may have already bought your new house. I can assure you that when you are the buyer you will not be looking at the highest priced homes in the neighborhood, you will be looking at the affordably priced homes. You sold lower than you initially wanted, but you sold. Quickly. Then you bought the house of your dreams at a price you never thought possible because everyone is in the same market.
So, to all you sellers out there If this makes sense and you are curerntly listed, talk to your Realtor and ask him or her where THEY feel house should be listed pricewise and why. Take that to heart and change your price if needed. The next home you buy will be a better deal than the one you just sold. If you don't have a Realtor or if you live somewhere else and want some free advice just shoot me an email. I'd be more that happy to answer questions and help you along the way to find the Realtor who is going to get the job done the quickest while putting the most money in your pocket.