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Are you pricing your home too high?

By
Real Estate Agent with RE/MAX Gold Coast REALTORS

Yes, sellers want to get the most money for his/her home. Ironically, the best way to do this is to not list your home at an excessively high price.

When listing the price high, this will cause some prospective buyers to lose interest before even seeing your home. It may also lead other buyers to expect more than what your home has to offer. As a result, overpriced homes tend to take a greater amount of time to sell and they end up being sold at a much lower price.

Aslan Realty Advisors, LLC
Fort Myers, FL
Staying a step ahead with Pride!

Very True...what do you suggest to your sellers when they come up with figures that are not viable?

                      

   

Nov 28, 2007 01:26 PM
Linda Sanderson
Coldwell Banker Solano Pacific - Benicia, CA
I agree with your comments, but want to add that sometimes they never do sell at all.  The listing gets stale, and it doesn't get shown because there are so many other houses to choose from.
Nov 28, 2007 01:29 PM
Vicky Poe
Good Ole Rocky Top - Crossville, TN
Realtor/ Auctioneer

These people are in all markets good and bad.  They think that their property is more special than their neighbors because it is theirs.

Nov 28, 2007 01:36 PM
Aslan Realty Advisors, LLC
Fort Myers, FL
Staying a step ahead with Pride!

Tell them to do a little research on these sites:

Zillow.com or Cyberhomes.com

                      

   

 

Nov 28, 2007 01:40 PM
Lisa Harkson
RE/MAX Gold Coast REALTORS - Oxnard, CA

Linda, that is so true. I have had two listings that just sat on the market with my relentless education of the neighborhood market anlysis and newspaper articles on the real estate decline.

Paige, as you know, it is a frustrating situation at times and the only way I find to have sellers understand is to explain that if they don't reduce their price now, they may be losing the opportunity to sell their home at all. If they wait a month or two longer, the likelihood of their home selling lessens. One of my clients has decided to rent their home until the market stabilizes. I also have to take into account that each seller has a different situation and/or needs. In this particular case, I believe it is best for him to rent out his home.

Nov 28, 2007 01:58 PM
LLoyd Nichols
Premier Florida Realty of SWFL - Fort Myers, FL
Southwest Florida Homes By The Sea
Paige. Great advise. How do you feel about Zillow?
Nov 28, 2007 02:11 PM
Lisa Harkson
RE/MAX Gold Coast REALTORS - Oxnard, CA
I visit Zillow.com frequently and my experience is that the "zestimates" given are $100,000-$150,000 over what the price should be listed for in a neighborhood where I live and farm. I appreciate the tip. I will visit cymberhomes.com and see if they are more accurate.
Nov 28, 2007 04:09 PM
www.SeeAllListings. com
SeeAllListings.com - Camarillo, CA
stand firm woth your clients when it comes to price. In the end they will thank you for it
Dec 28, 2007 04:10 AM