Still Overpriced!

Reblogger
Real Estate Broker/Owner with Catskill Country Real Estate

Price your property correctly.  If you don't, well---read on and find out what happens.  It's better to wait and not list.  This post explains the pitfalls of over pricing.

 

Are you still noticing that homes on the market are still being overpriced?  We know that many sellers feel that their home is worth more than their competition. Afterall, it's human nature, but unfortunately buyers don't want to pay more and they will know it is over-priced.

A seller may think...why not start with a higher price because a buyer can make a lower offer? This is wrong. They won't make the lower offer because they may not see the house if it's not in their price range. Competition is fierce and they will just move onto the next house down the road that is fairly priced.

An overpriced listing may not have an advantage for the Seller, the Buyer, or the Listing Agent.
  • The seller's house is going to be on the market longer.  
  • The buyer may be missing out on a truly nice house.
  • The listing agent may get a negative effect by the sign being out too long and it may show that they aren't able to sell the house!

It's true there are a fair share of agents who will take a listing at any price.

However, if you are serious about selling your house, price it right. If you are not serious about selling...then don’t bother putting your house on the market. It's just that easy!

Larry and Sheila are Realtors with Charles Rutenberg Realty and can help you choose a home on Long Island to buy or can help you sell your present residence. We can be reached at 631-805-4400.

 

If your home or condo is listed with another broker, this is not a solicitation of the property.
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Larry And Sheila Long Island Realtors 

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If you or anyone you know is considering to sell their existing home on The North Shore Of Long Island, or is purchasing their first home, dream home, step-up home, or retirement residence, we would appreciate the opportunity to serve them, and we can also recommend a relocation professional in the destination of choice outside our Long Island area! 

                    

 

  

Comments (4)

Mike Warfel
Mike & Rita Warfel Real Estate LLC - Avoca, MI
Associate Broker

I completely agree with all your points and use most of them to try to get the house listed right . We here in Michigan are still in a falling market which is very hard to price a house right. I usually give the home owner a price range, prepare them for price reductions and hope for the best.

thanks

Apr 02, 2012 03:19 AM
John Kavaller
Catskill Country Real Estate - Jeffersonville, NY
John Kavaller

Hello Mike and thanks for your comment.  It's a difficult market here in the Sullivan County NY Catskills as well. If comps can be found for a listing presentation, their presenatation illustrates the reality of how you arrived at your proposed pricing model.  I leave dream weaving to song writers and magicians, and bad advisers.

Apr 02, 2012 06:17 AM
Mike Warfel
Mike & Rita Warfel Real Estate LLC - Avoca, MI
Associate Broker

Dream weaving seems to be listing a house high enough to cover what is owed on it which pushes nine out of ten clients into short sales. As we all know SS's have become their own specialty, some times I do all right some times not. As we slug away at making a living as a full time agents, my wife and I look forward to the vacations that give us that short reprieve. Spring is here in Michigan, we are busy and everyone's attitude is improving.

thanks

Apr 03, 2012 04:10 AM
John Kavaller
Catskill Country Real Estate - Jeffersonville, NY
John Kavaller

Mike,

We just had a discussion today about appropriate priced homes selling fairly well. Having a reprieve from this very demanding profession does wonders sometimes.  And Spring does have a magical effect.

Apr 03, 2012 05:52 AM