It's become a price war out there. Home owner's want to sell their homes for top dollar, while buyers are patiently waiting for the next price reduction.
What to do...what to do...
Price it right in the beginning. A house that is priced accordingly will produce more activity and sell quicker than a home that isn't priced right - we all KNOW this....yet we give in....we bend to the will of sellers because ultimately we don't want to lose the sale and its their home - its their decision.
So how can you avoid this pitfall? Show sellers the comps they are bond to come up against in the face of an appraisal. Remind them, YOU do not dictate pricing and that buyers in this market will patiently wait for the price to move itself back down the price-o-meter. Explain and stand behind your price point with full property photos, features, and information on comparables. A picture is worth a thousand words - USE it! If they have a house that they think is a Mercedes when it's really a Pinto - they NEED to know this.
We will not be helping our sellers if their house just sits idle on the market. A car that doesn't run for a long time, always has a hard time getting started again.
So be honest - they will appreciate you for it!
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