Importance of pricing your home right.

Real Estate Agent with United Realty Group

A few months ago I got a short sale listing and owner needed to sell it fast. It was a 1/1 55 + condo in Dania, FL. Nothing has sold there in over a year, but similar condos were listed in 140's, so this is where I had to start... Every week I was reducing price little by little because there were no showings or calls on the property after all of the marketing i have done untill... I reached a mark of 89.000! Calls started pouring in and within a week I got a cash offer and a contract on a property. Buyers thought that this price was a fair one according to todays market. Sure enough, when I was preparing a CMA of the latest sales in that area for a bank that's where prices were!

Sale of your home is one of the most important decisions you can ever make, especially if you need to sell it. Pricing the property right from the beginning will make a huge difference and save you a lot of time in today's market. Sellers need to stop being unrealistic and price property right, then it is going to be sold. Our job is to deliver the message. But boy, isn't it a hard one?

Comments (3)

JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate
 I agree on both the importance of pricing and the difficulty of explaining this to a seller whose about to get rich. Today's buyers are educating themselves and making educated decisions as to whether or not a house is priced fairly.
Dec 24, 2007 04:09 AM
Terrylynn Fisher
Dudum Real Estate Group - - Walnut Creek, CA
HAFA Certified, EcoBroker, CRS, CSP Realtor, Etc.
Yup, and in California they just still don't want to hear it.  Sad but true, in these times I'd rather be the 3rd Realtor.  Just let someone else spend their money on these listings because they just can't tell the seller what they need to hear. 
Dec 24, 2007 04:48 AM
Dmitri Olympiev
United Realty Group - Cooper City, FL

Yes, Terrylynn. Here in Florida sellers don't want to hear the truth either. But i like what you said - you have to tell them even if they will hate you. Otherwise they will hate you later if you don't sell the house.

Dec 24, 2007 10:01 AM