We can always come down on our home's price, but we can't go up.
WOW! Judi Barrett's blog below hits the nail on the head. Every seller I know wants to
"price it a little higher" and they waste time and the powerful first "blush" of advertising. It's kind of like introducing their house into polite society. After awhile, buyers don't look at it anymore. Thank you Judi Barrent for a timely blog about pricing.
We can always come down on our home's price, but we can't go up.
I've heard this over and over through the years " We can always come down on our home's price" so we want to price it higher than what your comparative market analysis (CMA) indicates.
"We don't have to sell. We don't need the money. We're not in any hurry to sell. We can always come down on price, but we can't go up."
The problem with what you are proposing Mr Seller is that you're going to be overpriced when the first excited interest in your home begins. There are people who have been shopping for exactly the things your home has to offer. These buyers know what a home with these amenities and in this neighborhood is worth.. they are working with real estate agents that have informed them about the real estate market. An over-priced home may just turn them away without even looking. Statistically the longer a house is overpriced, the longer it will stay on the market. There is a point where buyers begin to label the house as:
- overpriced with a non-negotiable seller
- something is wrong with the house
- something is wrong with the neighborhood
So yes, you can always come down on the price but it may be too late!
I have seen sellers go up on price... I've never seen that be successful in our market that I can recall..
THE BEST STRATEGY IS TO PRICE IT WHERE THE EXPERT THAT YOU'VE HIRED HAS TOLD YOU TO PRICE IT! LISTEN TO YOUR REAL ESTATE AGENT. If you don't want to listen to your real estate agent, then why did you contract with them to sell your home?
If you want to sell your home in Idabel Oklahoma, call me, Judi Barrett, at Integrity Real Estate Services 580-212-5946
Nothing contained within this post is intended to be legal advice. I am not an attorney and cannot give legal advice. If you need legal advice, you should seek the advice of licensed attorney.
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Judi BarrettBroker, Integrity Real Estate Services,
Office Address: 1280 Brown Addition Rd., IDABEL, OK 74745 580-212-5946
Judi Barrett, B.S. Edu.,
Integrity Real Estate Services
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