THEY CAN ALWAYS MAKE AN OFFER

By
Real Estate Agent with Watson Realty Corp

We are constantly in front of people wanting us to sell their home but list it at a higher price than the market dictates.  The logic, which isn't bad on the surface, is that a high list price will enable buyers to make lower offers and negotiation brings an acceptable sale price to the seller.  Human nature tells them that this makes sense and would be a good sales approach.  Unfortunately, as experienced realtors, we know that things don't work that way with buyers and we have to convince our sellers that there is a better way.

The truth of the matter is that if a home is not priced to fit the conditions right from the start, it is most likely not going to sell quickly or at all.  If your price is too high for the market, the right buyers won't see it and the higher priced buyers won't want it.  The idea of "they can always make an offer" goes out the window with an above market price because there are simply too few or no buyers coming to see the house that could make the offer.  The seller can set the price but the market sets the value is an old concept that almost always rings true.

A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed on the market.  Don't loose out on that momentum by pricing high and hoping to negotiate down later.

Comments (1)

Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

All of that makes a great deal of sense.  I represent buyers exclusively and if the price is inot in the ballpark to start with, they move on and not even think about making an effort at an offer.

Mar 07, 2011 05:32 AM