“How Much Are You Asking For This Home?”
How many times have I heard that as a Real Estate Professional?
It is the first question a potential buyer will ask me when they inquire about a home.
The answer is “We” aren’t asking anything. The Seller sets the initial asking price and I just market it to the public.
Price is extremely important. It is the first thing a Serious Buyer will consider as to whether they will continue to look into the qualities and amenities of your home, or simply scroll on to the next one.
That’s right, the perfect buyer for your home, may skip right over your house when searching for another home.
Where you price your home says a lot about you as a Seller. It speaks to reason, it speaks to motivation, it speaks to reality.
Most sellers have the mindset “We can always come down”. While that is true, you can do this.
But it is usually after your home has sat on the market for many months, garnering the reputation of a poor quality or overpriced home…
Then you end up taking LESS than you would have that first 40 days on the market, had you listened to your Real Estate agent and priced it competitively. You will have to come down by now to sell it.
At least 50% of homes that are listed in our town expire without selling. This is mainly due to being overpriced the first time on the market. Most list with another company, aggravated that their home didn’t sell and they blame their agent.
But guess what? They REDUCE their asking price the second and third( and each new time they list it) with another company until they finally get their home priced to sell.
Do you think maybe it would have sold and sold quickly if they had priced it right the first time? Of course it would have…
The first 40 days are when the home is new to the market and the agents are most excited to get their buyers inside.
While you are competing with other homes, if your home is overpriced and they find they can get more square footage or amenities elsewhere, they will pass right over your home.
Listen to the Market, who sets the price. The market is derived from the data of homes recently sold similar to yours. The market price is set by the qualified Buyers who have bought in the last 12 months. These SOLD prices are the prices you should consider when pricing your home.
Buyers are very savvy and will not over pay for a property. In fact, buyers don’t even stay in their homes very long before they are ready to move again, so they will be considering resell even when they purchase.
Have a professional, EXPERIENCED Realtor help you price your home. Someone who has their pulse on the market.
This is better than having an appraisal, as most appraisers don’t take into account what the Buyers are seeking in terms of exciting new trends, etc. Most appraisers won’t give more to a brick house over vinyl or a paved driveway over a gravel drive. Or a Soaking tub over a Jacuzzi tub. These are just examples of some preferred amenities on a buyers list…This is not the appraiser’s fault, it is because of the new regulation guidelines they must follow.
As a professional and experienced Realtor, I will LISTEN to the buyers and then pass that information on to you, the Seller.
Then YOU can be off to your next home…
For help with pricing your home or if you are just curious of the present value, call ,text, or email me and I will be happy to help.
Having been both a Real Estate agent and now a Broker for over 30 years, and having been a State Certified Appraiser for over 15 years, I can offer you the best guidance to help you.
Janie Marksberry 270 244 0040 or firstname.lastname@example.org.