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Client wants to know....

By Julie Jalone

Real Estate Agent with MagnumOne Realty CA BRE Lic. # 01418097

February 20, 2008 01:28 AM

My client wants to know why, when we get feedback on showings and they liked the house but said it was overpriced, "Why don't they make an offer?"

My explanation to this seemingly perplexing question is that buyers are not looking at one house they are looking at multiple properties in their price range. They are looking at oranges and you are offering an apple. They want the best orange they can get so why would they make an offer on an apple. In today's market it more important than ever for a for sale home to compare favorably with similarly priced homes.

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Anonymous

Mike Hunter

HI Julie,

Been there, done that. I've found that it's best to keep it short and sweet while squashing the follow-up question. My favorite: It's not what they're looking for and they think it's overpriced.

mike

Feb 20, 2008 01:33 AM

Susan Haughton

Long and Foster REALTORS (703) 470-4545 - Alexandria, VA

Susan & Mindy Team...Honesty. Integrity. Results.

Prospective buyers sometimes read a lot into the price of a home; if it's overpriced, they often think the sellers are greedy and unwilling to negotiate. An overpriced home offends them in some way. You are absolutely right on target: more than ever, pricing the home is critical.

Feb 20, 2008 01:36 AM

Tony Giglio

KeyRealtyGrp.com - Cincinnati, OH

If the seller is getting the feedback the home is overpriced why are they not offering to lower the price? Seems to me that would be an incentive to try and capture the potential buyer!

Feb 20, 2008 01:41 AM