When does overpricing a home for sale work?

Reblogger Praful Thakkar
Real Estate Agent with LAER Realty Partners

Did you know 'overpricing' can sell a listing?

Don't believe it?

You must read this re-post from Andrea Swiedler:

When does overpricing a home for sale work?

Original content by Andrea Swiedler Licensed in Connecticut

When it's the neighbors house.

Bada bing, bada boom.

Joke time is over. Agents see these homes come on the market, those eye roll listings. Where on earth did the price come from? 

These listings don't just sit there and not sell, they can make an agents job harder. As potential sellers see these overpriced listings come on, they feel the market MUST be getting better, proof positive by higher list prices!  Of course recent sales tell an entirely different story altogether. 

I know, I did just write about the kiss of death, the moment when you give a seller a realistic price, and you realize they are 2 steps away from poking you with a fork because in their eyes, you are done. 

I just can't say it enough, at least not for the Southern Litchfield County CT real estate market. A home must be priced according to the following three things.

  • according to current, hyper local market conditions
  • according to the condition of the home
  • according to the location of the home

For more information on pricing your home to sell in the current Southern Litchfield County CT real estate market, pick up my free ebook here. 

 

But, if you want to be a really good egg and help your neighbors out,

overprice the house!  

 

Andrea Swiedler, Realtor, Southern Litchfield County Real Estate

2017 President, Greater New Milford Board of Realtors

2017 Connecticut Magazine 5 Star Realtor

whats my home worth 

 Search homes for sale in Litchfield County, CT.

 

Berkshire Hathaway HomeServices New England Properties

Litchfield County Regional Office, 27 Main Street, New Milford, CT 06776

 

© Andrea Swiedler 2009 - 2016

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

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Rainmaker
528,481
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

HAHA! I was questioning the topic but the article proved the point. Nice!

Jan 14, 2017 05:22 AM #3
Rainmaker
318,023
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Great idea for a re-blog, Praful!

 

Jan 14, 2017 06:52 AM #4
Rainmaker
390,463
Maria Sapio
Berkshire Hathaway Homesale Realty - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

Thank you Praful Thakkar - Good choice for a re-blog and of course the title was an attention catcher for me...

Jan 14, 2017 07:00 AM #5
Rainmaker
2,686,462
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Praful. When the over-priced listing is next door to yours or when the seller really does not want to sell are the only time it does what is intended! Enjoy your day!

Jan 14, 2017 07:24 AM #6
Rainer
111,042
Karen Hellier
Freelance Writer - Big Canoe, GA
Freelance Writer for Professionals, North Georgia

This is a great re-blog Praful. I love it that Andrea offers a free e-book. How impressive!

Jan 14, 2017 04:38 PM #7
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for stopping by at this post and your comments.

Jan 14, 2017 06:24 PM #8
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Harry F. D'Elia - indeed a smart way to sell an overpriced home, isn't it?

Jan 14, 2017 09:37 PM #9
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC - sounds funny, but it has happened, I have seen it.

Jan 14, 2017 09:37 PM #10
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

It's the neighbor who eventually can come down to realistic price, and both of them can sell the home now.

Jan 14, 2017 09:38 PM #11
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Nathan Gesner - when I read the title of the post, I was thinking the same way...lol!

Jan 14, 2017 09:38 PM #12
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

(And then realized that there is a way this can happen.)

Jan 14, 2017 09:39 PM #13
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Steffy Hristova - the only thing is, there should be such a neighbor!

Jan 14, 2017 09:39 PM #14
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

(Sometimes invite the neighbor to your home and bribe him or her...lol!)

Jan 14, 2017 09:40 PM #15
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Maria Sapio - title matters a lot, isn't it? Especially the one like this...lol!

Jan 14, 2017 09:40 PM #16
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

It's been said that the title makes all the difference on how many people read the post. Title is very important for the blog post.

Jan 14, 2017 09:41 PM #17
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Wayne Martin - you got it. The neighbor's home is the key for sure.

Jan 14, 2017 09:41 PM #18
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

(And once the house is sold, celebrate with the neighbor...lol!)

Jan 14, 2017 09:42 PM #19
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Karen Hellier - in fact this is a community of giver - so grab the free e-book.

Jan 14, 2017 09:43 PM #20
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And indeed a great post from Andrea - on how one can still sell overpriced home.

Jan 14, 2017 09:43 PM #21
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Once again, thanks all for stopping by at this post and your comments.

Jan 14, 2017 09:43 PM #22
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