Price, one of the hardest & toughest subject in today’s market. Not all sellers and honestly not all agents understand that price is the end all if a property will sell or not. Not only does price affect if a property will sell it determines for how much and in what time frame.
Yes, how you or your agent markets the property matters. But even the greatest agent can not get a buyer to pay more than fair market value for something. This is the biggest buy for almost anyone and buyers have access to the same sold properties, tax records and the ability to go view comparable homes we do, they do their homework!
Statistically homes that are priced right out of the box sell faster and for more money than those who play the “let’s start high and we can always come down game”. Buyers are smart, educated and know what value is when they see it. Buyers on average will walk through 7-10 comparable properties before yours; they just came out of all the competing properties, if you’re priced high it shows and you will sit.
No matter how well known your agent is, how good your marketing plan is or how many open houses you hold, it comes down to price.
It takes a good and gutsy agent to be honest and share with you your property’s real and accurate market value – no matter how much lower it is than you thought.
Its then up to you to listen to them as the expert, review the comps and be objective with yourself and the situation of whatever your area market is. Once you do that and then list your property at a price that reflects today’s fair market value and market conditions, you will actually sell it.
Price high and sell the competition or price “right” not low, and sell your property. It’s up to you and what you’re trying to achieve.
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