As a seller's agent, I love the challenge of selling homes. Realtors who make selling homes their business, know what it takes to get a home sold. There is an excitement, or even a rush, when putting a listing on the market. But, with any listing, there has to be great thought and planning to raise it's probability of selling.
Now, here comes the fun part. It's important for the listing agent and seller to have an in-depth conversation regarding what it will take to sell the home. Location always sells a home, but pricing can break or make a buyer's decision to buy the home. Savvy buyer's agents know when a property is overpriced. They can just research prices on their jurisdiction's home listing system and identify the most recently sold homes in a community and do a comparative market analysis. With this in mind, a buyer's agent will inform a buyer if a home is not priced appropriately.
I urge sellers to be hesitant of wanting their real estate agent to price a home more than what it's worth. The goal is to sell the home, not have it to sit on the market. A well-priced home will draw in the buyers and initiate the writing of sales offers. Real estate agents don't mind selling pricey homes, but a pricey home that just sits, don't do anyone any good. It's understandable that sellers want to maximize their potential profit from the sell of the home. However, if the home doesn't appraise for the list price while under contract, the buyer's lender will not lend the buyer the money to buy the home at the listed price. The home would then have to be sold at the appraised price.
As a seller's agent, I always want the seller to get the most from the sell of their home. However, I also want to make sure that I'm doing what's professionally correct. Selling a home is a process. It's not just a matter of sticking a price to it and hoping someone will buy it. Being greedy is not always good, and it will cause a home not to sell at all. Whether the price is lowered right away, if the home sits long enough, the lowering of the price will be the first course of action to get the home sold.
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