Realistic Pricing

By
Real Estate Agent with ReMax Action Realty

Today I took buyers through numerous properties in Suburban Montgomery County, PA.  They are keenly interested in 3 of them and will probably purchase one in the next few days.

Acting as their designated agent I began to search for sold comparables so that they can make a bonified offer and get to closing.  WOW!!!! What a suprise.  The three properties are condos listed in the range of $159,000-$180,000.  Two of the three are listed $20,000-30,000 over the last sale.  HOW CAN THIS BE????

The reason homes are sitting on the market is because they are over-priced.  This is a prime example.  I think that Listing Agents owe a service to their sellers to give them accurate data to price realistically.  We are certainly not in a market where each unit sells for 10-15% higher than the one before it. 

Agents - start taking a stand and show your sellers what they need to do to get sold.  There will be far fewer disappointments on all sides and more closings to attend.

Sellers- if you want to sell your homes or investment properties, start following the info that your listing agent gives you and you will succeed.

Comments (3)

Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Carol, great post!  You're right about pricing, again, great post!

Jun 22, 2008 03:55 PM
Carol Cei
ReMax Action Realty - Maple Glen, PA

Tony and Darcy, thanks for your comment.  I have been a certified res. appraiser for many years and the thing that I find most distressing is that even if a buyer comes along and makes one of these high offers, the deal will fall apart during the mortgage process.  That's not good for anyone.

Jun 22, 2008 04:02 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Pricing is huge ! Pls . view our  RELO  message - http://actvra.in/4jHG

Jul 19, 2014 12:41 AM