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Still Overpriced

By
Real Estate Agent with The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

Are you still noticing that homes on the market are still being overpriced?

 

We know that many sellers feel that their home is worth more than their competition. Afterall, it's human nature, but unfortunately buyers don't want to pay more and they will know it is over-priced.

 

A seller may think...why not start with a higher price because a buyer can make a lower offer?

 

This is the wrong way to think.

 

They won't make the lower offer because they may not see the house if it's not in their price range. Competition is fierce and they will just move onto the next house down the road that is fairly priced.

 

An overpriced listing may not have an advantage for the Seller, the Buyer, or the Listing Agent.
 
  • The seller's house is going to be on the market longer.  
  • The buyer may be missing out on a truly nice house.
  • The listing agent may get a negative effect by the sign being out too long ,and it may show that the house is not even worthy enough to take a look.

It's true there are a fair share of agents who will take a listing at any price.

 

However, if you are serious about selling your house, price it right. If you are not serious about selling...then don’t bother putting your house on the market. It's just that easy!

 

When you're ready to sell your Long Island house, call Lawrence & Sheila Agranoff and get it sold ~ Call our cell 631-805-44000.

 

Search Here For Long Island Homes and Condos

 


 

If your home or condo is listed with another broker, this is not a solicitation of the property.
 
Posted by

                                                    Sheila & Larry Agranoff

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                                                                Cell: 631-805-4400
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Lawrence "Larry" & Sheila Agranoff are more than just Real Estate Agents. To attain the designation of REALTORS®, we have proven to be more knowledgeable & experienced, above and beyond the average requirements. Being part of the network referred to as REALTORS®, you can be sure we will cater to your Real Estate needs with superior professional practices.
 
If your home is listed with another broker, this is not a solicitation of property. This does not suggest broker has property currently available. Reproduction of text/images contained herein without the express written consent of the authors is strictly prohibited. Sale May Be Subject To Term & Conditions of An Offering Plan. Disclaimer: While information is believed to be accurate it's represented subject to errors, omissions, changes or reliance on information & must be verified by prospective consumer. The authors disclaim liability for any damages/losses, direct or indirect resulting from anything contained herein or the accuracy of comments or opinions of visitors.​©2008-2023.
 
 
 
 
 
 

 

Comments(22)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Sally and David.  As the market continues to heat up and the inventory remains low, I see more and more overpriced listings.

Nov 11, 2015 07:41 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) I have made this error personally, thinking a property I own is worth more that market conditions dictate, but these errors didn't last very long.

Nov 11, 2015 07:51 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of selling their home in Long Island should list with you.

Nov 11, 2015 09:12 PM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Price it right.....rely on the experts for advice.  In Suffolk County, call Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) 

Nov 11, 2015 09:21 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sheila and Larry. This is so very true. Nice post. have a great day.

Nov 11, 2015 09:21 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Sheila: Michael hit the nail on the head...overpriced homes typically do not sell, but all those around it sure get plenty of positive attention as a result.

Nov 11, 2015 09:29 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

In real estate, at the end of the day, it always comes back to price. I wish I had $100 for each time a seller said to me... let them make an offer and I'll negotiate.... and then they wait and wait and wait for the offer. And I'm still reminding all my sellers that although the Charlotte market is very strong and homes are selling fast that this is not an excuse to "run away" with your asking price.

Nov 11, 2015 09:30 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The homes that are still on the market here in NH are all most likely overpriced Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) SOme agents just do not learn as all my new listings priced right are sold within a week. 

Nov 11, 2015 09:57 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Larry & Sheila, sound advice!   If it is too high, buyers won't find it in the price point it should be! 

Nov 11, 2015 10:08 PM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

Larry and Sheila, your advice is spot on. Overpricing a home is a mistake on so many levels. You couldn't have said it better - price it right or just don't list it at all.

Nov 11, 2015 10:37 PM
Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

Another thing to remember is in an upward market, whenever a home is showing many days on, and/or a price reduction, right off the bat buyer's will wonder "what is wrong with it", and then it becomes a target.  Once again, greed rears it's ugly head and turns what could have been a smooth sale into a sad statistic.

Nov 11, 2015 10:54 PM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

 I went to an open house today, that was priced to sell.  It was appraised at $190,000, but the seller's listed it for $169,000. I will be showing it tomorrow to my clients.

Nov 12, 2015 04:35 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I have two over priced listings right now Larry & Sheila. At this time of year it makes it even harder.

Nov 12, 2015 08:40 AM
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Pricing is crucial in any market.  Even at good market, it is one of the determine factor of whether the property sells or not.

Nov 12, 2015 05:11 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) ,

You are so right! If your are serious about listing and SELLING your home..price it right the first time!

Nov 12, 2015 08:43 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Larry and Sheila, regardless of the market, overpricing a home is not going to get the house sold. Especially when there are others in the area that are priced within market range.

Nov 12, 2015 09:51 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I like this post Larry and Sheila and also like the format and fonts you used.

Nov 13, 2015 11:31 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Larry and Sheila

Buyer understand the real estate market.  They are following the home sales and pricing. As a result overpriced listing are not selling.

Good luck and success.

Lou Ludwig

Nov 13, 2015 11:39 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Wonderful post as always Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) 

I have such trouble finding you these days

Dec 02, 2015 11:23 AM
The Julie Morales Team
RE/MAX Cinco Ranch - Katy, TX
Real Estate Questions? Call (832) 367-3412

I always felt seller's are a little more difficult than buyers for this reason. It is definitely an issue. Great post and way to address it! 

Dec 03, 2015 07:22 AM