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How many over priced Listings will sell today?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

A recent trend is would be home sellers to ask more for their homes than they are worth to get a higher sales price.  The media tells them there is a shortage of listings. They say values are rising. Here in the Manchester NH area another trend is agents willing to give higher values just to get the listing.

 

In the end it is the home seller that loses. Often the home goes unsold. Few buyers want to look at over priced homes. More than half of the sellers I meet ask if they can increase the asking price when i let them know what the value of their home is in today's market. 

 

I like to let them know within 2 weeks, of listing, if there is a combination of few showings and or no offers, then the price needs to be reduced to what market value is. Listing a home costs money and time for the seller. Getting the highest price for the seller at the best terms and quickest time is always our goal. The seller needs to work with and not against their listing agent. 

 

The MOST IMPORTANT message is to share is that my philosophy is simple, to provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

Comments (9)

Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Scott. This is so true and so very important. Sometimes sellers don't want to hear it. Too bad.

Jul 16, 2018 06:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Scott... no overpriced listings will sell today or any day... except maybe at a deep discount because a buyer had the nerve to make a low offer.

Jul 16, 2018 06:35 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Scott
Many sellers and agents don't take into account the cost of overpricing a listing and letting it linger on the market.  There are tangible and intangible costs and often the intangible costs are the most significant. 

Jul 16, 2018 07:38 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Scott, There are still both sellers and listing agents that are unrealistic in their pricing. We went on a CMA that we didn't want and didn't get, but another agent listed it. Last week we noticed it was reduced by $120,000!

Jul 16, 2018 08:27 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Scott- sellers would do well to understand that even with a shortage in inventory, buyers need to see the value in their purchase. 

Jul 16, 2018 11:45 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Scott I just had this conversation with a seller and he listened and priced correctly for the market.  Over priced listings waste precious market time sitting idly when agents and buyers pass it by.

Jul 16, 2018 02:47 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Scott Godzyk - You give good advice and sellers would be wise to take your advice. You know your area well and you're an excellent agent too!

Jul 16, 2018 03:23 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

This type of business practice happens in every market.  Sellers need to listen to the WHY behind what an agent is saying.  If an agent can support their list price and have data behind their argument, great!  If not, those agents are blowing sunshine.

Jul 16, 2018 06:25 PM
James Dray
Fathom Realty - Bentonville, AR

Morning Scott.

I've walked away from a few listings by sellers that were just not reasonable.  I've actually picked up a few on the second time around, they were ready to sell and ready to listen to reason

Jul 17, 2018 01:44 AM