It's Not How Fast You Sell-It's How Much You Get

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

A caller this week was quite upset that a house in their neighborhood was priced about $100,000 below the market and, of course, sold in minutes with multiple offers. They demanded to know why! 

 

 Here is a list of reasons for a lower listing price which will almost guarantee a fast sale.

Remember agents train to list as low as possible to get that fast sale and move on to the next transaction.

 

But why would a seller want or need such a fast sell?

 

  •      needs immediate cash
  •      moving to assisted/long term care-the house is empty
  •     needs a larger home (boomerang kids etc.)
  •     pandemic-need to care for the family out of town
  •     wants to travel-not deal with the care and feeding of a house
  •     loss of employment…cannot afford to stay in the family home
  •     new employment increase salaries need to start immediately but out of state
  •     no longer able to care for the house
  •     illness and loss of a caregiver
  •     family obligations out of state
  •     declining health or mobility
  •     going through a partnership or marriage break-up
  •     death of spouse
  •     wants to liquidate an estate
  •     is retiring
  •     has already purchased another house
  •     has unforeseen financial challenges
  •     has high carrying costs on the property

 

You can sell fast!

Just reduce or underprice and wait for multiple offers!

 

 

To sell your home

Call Margaret Rome

Margaret Rome

 

 

 

 

Comments (25)

Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful day!

Oct 17, 2021 09:46 AM
Margaret Rome Baltimore 410-530-2400

Good to see you, Shayne Stone 

Oct 18, 2021 08:43 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

I can certainly understand the neighbor's frustration! There are many legit reasons as your lists shows and sometimes it is the best approach because it is what the seller wants/needs. 

When it is only for the agent's bragging rights, however, then it can become an issue for the whole neighborhood! The next agent coming in may not be too familiar with the neighborhood, not understand the dynamic and set the bar even lower. 

Oct 17, 2021 10:22 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret that is a very good list of reasons why a Seller would sell for a low price.  Sometimes the speed is more important than the amount.

Oct 17, 2021 11:03 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Regardless of where it was priced, in this market, there had to be multiple offers and the seller would have been able to get what felt right

Oct 17, 2021 01:01 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

I know of a company that is advising all sellers to list 30% below market to stimulate an auction mentality. Don't know what they are going to do when the market turns

Oct 17, 2021 04:21 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

You provide excellent reasons why a seller may wish to sell fast.  And, you also correctly point out why there is often a price for that!

Oct 17, 2021 07:33 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Oct 17, 2021 07:34 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I can understand being upset but at the end of the day, anyone can sell for whatever they want, whether it be too high or too low, haha.

Oct 18, 2021 05:00 AM
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

This is the best strategy for a quick sale. As I tell a Seller you will definitely get the most eyes on your property and find out what the market will bear.

Oct 18, 2021 05:03 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Margaret - there are all kinds of strategies(pricing and others) in real estate.  

Oct 18, 2021 06:02 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Andrea Bedard ,

There are reasons why a home would be listed lower...but our concerns should be : is it the right price for the seller or for the agent?

Oct 18, 2021 08:52 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto, Speed is definitely a factor in pricing lower for a fast sale.

Oct 18, 2021 11:06 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Ed Silva But if priced too low, is that fair to the seller?

Oct 18, 2021 11:07 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Rocky Dickerson,

Interesting advice. I have not heard of listing 30% below and making auction-like bidding. Is everyone informed this is a starting price?

Oct 18, 2021 11:12 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thank you, Myrl Jeffcoat, for the comment and for the feature!

Oct 18, 2021 11:13 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Brian England Yes, they can list at any price they choose. My concern is:  is the seller getting the right advice from their agent?

Oct 18, 2021 11:16 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Buzz Mackintosh, You are right it will get the most eyes on the property. But sellers do not always NEED to sell fast.

Oct 18, 2021 11:19 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Michael Jacobs Hmm "... there are all kinds of strategies(pricing and others) in real estate." I will be pondering that statement. 😀

Oct 18, 2021 11:20 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Margaret - Bill Salvatore - YVP Blog comment is interesting.  I guess when then insist you must give full disclosure.

Oct 20, 2021 05:55 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Grant Schneider, It was an interesting comment.

Oct 20, 2021 11:43 AM