Home Sellers: Pricing Is Everything
Good Monday Morning!
Are you thinking about selling your home or do you currently have a home on the market? Either way, selling a home can be a challenge if you are not priced with the current market. History has certainly shown us that homes that are over priced rarely sell. These are the homes that you watch in your neighborhood that have that for sale sign up forever. Typically, this is also the property that burns through several different agents. Not only is the sign up for a long time, but it changes frequently with different companies and agents. We have all seen this. If you are selling your home, or thinking of selling your home, this is not the house you want to be. Nine times out of ten there is one reason for a home like this to not sell. It's the fact that the price is too high! By pricing above the market sellers not only miss the market, but they turn off potential buyers and the longer the home sits without selling the harder it becomes for that home to sell. The home becomes "shop warn" and buyers immediately think that there is something wrong with the home. Over pricing costs home sellers more money than any other mistake.
When you place a home on the market it is essential that you get a solid market evaluation from a top Real Estate agent who know your market area well. This will get you started on the right track. When your home hits the market you will also need to listen to the market. Your agent will need to have a follow up system that tracks all showings and obtains feedback. This way, in the event that your home is not receiving strong interest or offers you will begin to have a track record of why buyers are not interested. Again, nine times out of ten the reason is price. The feedback will then show you where buyers are perceiving your home value to be and in the case where you are priced slightly above the market you will now know at what value the market is going to accept your home.
"Why don't they just make offers"? I have heard this from sellers during the 25 years I have been in the Real Estate business. Here is the reason that buyers don't make offers on over priced listings. Buyers are comparison shoppers and if they are finding other homes on the market that are maybe newer, larger, better location, better amenities, more updated and priced lower than yours then your over priced home is helping buyers make the decison to purchase competing homes. Why would a potential home buyer make an offer on your home if it was the least desireable of the homes the buyer is looking at. Pricing is everything when it comes to sellig your home!
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
  |
2750 Grand Cayman Dr
Gorgeous Home with Lots of Options! High ceilings, recessed lighting, lots of storage throughout, bonus room, office, library, formal dining room, plus well-sized laundry/mud room. Great room with living room, fireplace, built-ins, kitchen with larg...
|
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
