"Stale Potato Chips Anyone?"
When you decide to place you market on the market there is one crucial mistake many sellers make right off the bat. The mistake of choosing the highest price to list their home and different reasons come in to play for their reasoning. As the seller you have made your house into a home, attaching emotions from years of memories to a tangible asset. The key for all sellers, is just for one moment to place themselves in the buyers shoes.
Todays buyer is far more educated that buyers of days gone by... Buyers of today base their opinion on reasearch of the facts of current market conditions. The truth is and, it may sting a little, it doesn't really matter how much money you think your home is worth if buyers don't agree. Of course, there is always a buyer out there that wants a home for 50% below asking price and, those are not the one's we are concerned about.
Pricing a home requires trememdous research of current market conditions and requires a highly skilled agent. Research of similar sold properties in the area, trends within the local market, and being knowledgeable of current inventory all play major roles in establishing the listing price. Price shouldn't be based on opinion but the facts.
A home should be priced at a price the buyer is willing to pay and a seller is willing to accept, that "sweet spot" of compromise. Overpricing a home can cost sellers more just time and mortgage payments. A home that has been on the market for a long amount of time becomes stale and buyers tend to be wary of these properties.
Picture two bags of "Lay's Potato Chips", each for the same asking price, quite similar in appearance, but one bag has been on the shelf for a 6 months, the other was just displayed. As a consumer, you would stop and wonder, "What is wrong with this product?" and most commonly you would purchase the newer product, avoiding a run-in with some stale chips.
Similarly to the chips, homes placed on the market for strategicly placed competive prices sell quickly and for top dollar. In todays market, days on the market could mean a loss of money, especially if you are in a declining market.
When you are pricing a home for sale, ask yourself one question, "Do I want TOP DOLLAR or stale chips?"
Aaron Pendergrass
Broker
256-601-2242
Reminding you: To Sell Fast With Pendergrass!
Servicing: Rainsville, Fort Payne, Scottsboro, Guntersville, Albertville, Boaz, and the Greater Northereast Alabama Area
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