When selling your home it is critical that you have confidence in your Realtor’s evaluation of your estimated market value. Some tactics of other agents to obtain the listing may not be in your best interest. From an objective point of view let’s talk about what pitfalls you can avoid when selling your home with me.
Competition among agents is very high and is currently being driven by the low inventory (number of homes for sale on the market). Some, not all, agents will entice sellers to list their home for a higher than market value price to gain the listing. This has the tendency of putting dollar signs in your eyes and raising your expectations of how much money you will walk away from the table with.
Please listen carefully, I am not being negative about any other agent’s strategies. I am making you aware of the tactics others may be using to manipulate you, causing you to miss out on valuable time and money.
My first point is when listing at a much higher price than comparable sold listings would substantiate, 2 weeks later, 30 days later and 60 days later the agent calls…”You need to reduce your price in order to sell this house!” The house sits on the market for weeks, even months, with few showings and no offers. The point of listing your house with a Realtor is to GET IT SOLD with the highest possible profit in your pocket.
It is imperative to list your home with competitive pricing to attract buyers and their agents, get showings and negotiate offers. Your listing price is the first and foremost part of the marketing process. Everything else that is used to market the listing is significantly less important.
Statistically, the first 14 days of your house being on the market are the most important in terms of getting the best offer. If the list price is too high buyers will not consider making a fair market value offer that will be rejected by an offended seller.
The next point I bring to your attention is that price reductions create a negative connotation about the house itself. Buyers will ask, “What’s wrong with this house that they lowered the price X number of times?” As a seller you can easily avoid this scenario by pricing your house reasonably and competitively from the very beginning.
The last point I am about to make is about perception. Buyers often have a negative perception about sellers and agents whose listings are priced too high. The buyer’s mindset is they do not wish to negotiate with a seller whose price is unreasonable…what else will they be unreasonable about?
To avoid the pitfalls of listing high, not selling your house or selling for less than fair market value call me or email me for a personalized needs analysis and marketing consultation. Together we will GET IT SOLD!
Cheers to your success!
Brandy Christensen, Realtor / Realty One Group Complete
CA BRE# 01971181 / C: 916-600-1239 / E: firstname.lastname@example.org