Did You Know?

By
Real Estate Agent with Encore Realty

   I recently read some information on the pricing of homes and the effect that it has on the market conditions.  Think about this for a second.  Let's say you want to sell your home and you think it is worth $300,000.  I come to you with all of the data and show you why your home is only worth $289,000.  For whatever reason you don't believe me and end up listing your house for $300,000 with another company.  So what have you just done?  You and the Realtor you have chosen to work with have just put an overpriced home on the market.  By doing so, this adds more inventory to the homes already on the market thus flooding the market.  Now buyers have to sort through more homes and with the help of an agent, decide which homes are really priced correctly.  When a Realtor takes an over priced listing, you can see the effect is has on the market.  If this practice was not done, there would be far fewer homes on the market thus reducing the time it takes for correctly priced homes to sell.  Now, would this simple practice make everything perfect?  Of course not, but it is one simple step than can be taken to make things better instead of worse.  If a Realtor shows you data and it makes sense, then you should probably list for what they suggest.  If you don't understand how they came up with the number then ask more questions!!  I hope this information helps.  Enjoy your day!!

 

Rian 

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