Ask 100 real estate agents to price the same home and you’ll get a wide range of numbers. The logical decision is to hire the agent with the best sounding numbers that net you the most for your home, right?
Not necessarily…
The problem is there are agents out there who will tell you they can sell your home at a higher price than is realistic just to take the listing.
That way they can get business from their sign in your front yard and online for months. So, you see they technically aren’t losing because they’re generating buyer leads at your expense. When you call them and ask them why your home isn’t selling, they tell you to reduce the price. You end up feeling like you are always getting beaten down on your price, and end up frustrated (really REALLY frustrated!).
The truth is, when buyers tour a home for sale, it’s usually not the first home they’ve toured, and it’s definitely not the first one they viewed online. They have seen several similar homes already and they will immediately notice if yours seems overpriced compared to the other homes they’ve seen.
Then, even if they really like the home and want to make an offer, most buyers are too timid to negotiate on an overpriced home, and they naturally hesitate if the price seems high. They prefer to wait until it's been sitting unsold on the market because they think the seller will come down on price as more time passes. The longer it sits unsold, the likelier the seller is to lower their price.
Unfortunately, once you do end up lowering the price you end up creating skepticism about the price in new buyers’ minds, coupled with the worry that something is wrong with the home if nobody has bought it yet. As Barbara Corcoran says, “Nothing smacks of desperation more than incremental price drops.”
Ultimately an unsold home costs you time and money.
Let me show you how to save both. My “aha” moment came when I figured out how to price Jud’s condo in a manner which left home buyers unable to question whether or not it was overpriced. This creative way to determine price creates warm feelings and desire for your home in buyers’ minds.
Click here to book a call with me so I can walk you through it.
Warmly,
Arynne
PS: Not sure if you’re quite ready to list your home just yet? No problem. The sooner you start learning the ins and outs of this process, the better. Click here to book a real estate possibility call with me today.
