Price Home Key West FL Real Estate Seller
If you are a homeowner trying to price your home try contacting the appraiser that completed it for you when you purchased your home and ask for an update. Typically you pay for a brand new appraisal, but some appraisers will give you a discount for an update.
Or, work with a Realtor who will give you sold comparable properties. Some sellers think that the only thing a Realtor does is price a home. Everything is easy until there is a problem. It's important to know what to do when there is a problem. If a new person with 1 year of experience came to do your job tomorrow would they do your job as well as an experienced person in your industry?
40% of homes that are listed for sale never sell. Those over priced homes are the 'stagnant sludge'. Buyers rarely look at the stagnant sludge unless they are serious buyers who want to be in the neighborhood and are, in my experience, hoping to buy the home far under market value.
Since most sellers in the stagnant sludge rarely, if ever, get showings the seller and seller's agent are generally very excited about getting a showing. The selling agent is anxious to get an offer because the house is going to remain unsold and get listed by another agent if the listing agent can't get a contract. The seller is usually excited by an offer. Since buyers are not competing for the property the final sales price is typically below market value.
It's important to price properly. It's practically impossible to find a stupid buyer. A home is a big purchase. A buyer searching for a new car may research car values for 3 months. Imagine the research that a home buyer spending 10 times as much money invests in researching a real estate investment.
Even if a buyer does not do any research and one day opens their eyes and decides to buy a home nearly 80% will work with a buyer's agent who who will schedule 4 to 8 homes for the buyer to look at. The buyer will choose the best home at the best price. The Buyers Agent will then share sold comparable homes with the buyer so the buyer can make a smart offer.
If you price properly you may get an offer almost instantly. Buyers and buyer's agents will worry that they won't have a 2nd chance and may offer full price or more than full price.
Price smart. You won't regret it.
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