Meaningful Considerations for the Home Seller…
1. What you paid for your home has nothing to do with what someone else is willing to pay.
2. The improvements you made to your home you did for your own enjoyment.
3. Home improvements will rarely provide an equitable return on your investment.
4. Renovations you made two or three years ago aren't considered "newly renovated".
5. The listing price of a neighbour’s home for sale does not represent market value.
6. Listings in the immediate area can only be viewed as your competition.
7. A comparable home is most likely to be a neighbour’s home that sold recently.
8. Expect overpriced homes to sell much slower (unless it’s a Seller’s market), or not at all.
9. The longer your overpriced home is on the market, the lower its final selling price is likely to be.
10. The higher your list price, the fewer times it will produce an MLS search result.
11. The Seller wants room to negotiate while the REALTOR® needs someone to negotiate with.
12. “Special” Buyers are the figment of the greedy imagination of a Seller.
13. If by chance a “Special” Buyer does come along, the deal had better be cash because financing approval will only be received if the lender appraisal is at or below market value.
14. An expired listing represents a failure to sell, so make sure you don’t enlist the help of a top producing REALTOR® who frequently fails to sell because of their "volume" business model.
15. The appraisal you had done three years ago in order to refinance your home and take money out does not reflect what your house is worth today.
16. Rarely does the Seller know better than the Buyer, REALTOR® and the appraiser.
17. Knowing full well that an overpriced listing is unlikely to sell find out if the REALTOR® you are considering has received training in price reduction strategies to use on you the Seller.
Please leave a comment and add your own considerations for the Home Seller.