Six Ways Other Agents' Clients Lose Thousands by Incorrectly Pricing Homes
1. Your home will most likely sell for top dollar when it is fresh to the market and priced to be competitive. Letting it sit on the market destroys a buyer’s enthusiasm.
2. Buyers buy after they shop around. Buyers are in search of the best value. If your home is priced too high, it will make the other homes look more attractive. You will be selling the competition.
3. At the sale, your property will need to be appraised. If it appraises below the contract price, you will have a problem, because in this market, a lender will not want to give a loan to your buyer. Many sellers not represented by me then drop their price too much to get it closed!
4. Price is the most critical item that both buyers and real estate agents look to when selecting homes to view. Poor location can be cured with price, so can bad condition, terms, floor plan, and decorating.
5. Negotiations:
- If it is priced too high, it is possible that no one will seriously consider or see the benefit of starting the negotiations.
- The more accurately priced the property is, the less likely the buyer is to start the negotiations with a “low ball” offer or even see the need to negotiate.
- Buyers will be more unreasonable than the sellers are.
6. At the beginning of the marketing cycle, you are exposing it to all the buyers on the market. Within thirty days, you will only be exposing it to new buyers coming on the market. With the technology I use to promote the features and benefits of your home, this is now a world-wide phenomenon! Mymost important job is to discover market trends and apply them to your home. I will know exactly how the listing competition stacks up and know every property that an appraiser will look at to determine the value for the buyer’s loan. Call now to find out the exact price on your home no matter how many upgrades it may have.
