Pricing Your Home is Crucial to the Sale
When we sit down with potential clients to list their home, there are so many
issues and hot buttons to discuss. Inevitably we come to the one where we
really have to agree to get the home sold quickly and for the most money-
PRICE
Most homeowners want to start high and then come down – if they have
to – to sell. Of course, they are hoping their home is an exception, it will
sell for more than the market value of all the other homes in the area.
We see this over and over again.
If you don’t price your home within the price bracket it will eventually
sell for, you are hurting your chances of selling it for top dollar. If you
price your home correctly – You are not giving away money!!
Money, Money, Money
I repeat,
YOU ARE NOT GIVING AWAY MONEY.
This phantom money that you think you might get if the one person
comes along who will do anything, pay anything to own your “special”
home does not exist.
Let me repeat that –
The uneducated buyer with money falling out of their pockets,
sprinkled in fairy dust, so you can make the money you would like to out
of your home sale —– DOES NOT EXIST!!!
You are not letting go of money, you are letting go of the dream
scenario where you get the price that is 25-30% over market value.
It isn’t going to happen.
What will happen, is your home will be posted on the MLS, online,
many places where buyers can look at it. Buyers then compare your
price to others, and say, why would I buy this house?? There are
10-15 others I can look at that are competitively priced and look great.
Then…. they are gone.
- They don’t come back and revisit your home as an option.
Other homes are new on the market to consider. Yours has been rejected as:
- too expensive
- too much work
- not what they are looking for
The first month your home is listed is usually the only month that gets
high traffic. Some of our sellers will listen, most don’t.
Sadly, two, six, eight months later, we are still trying to get them to
agree to the price they should be listed at, if they want their home to sell.
Chasing this downward price spiral is not the best way to get top dollar
from your home. When it first hits the market it has the most exposure
and best chance of getting the best price!
Copyright 2008 All rights reserved
Photos from Flickr Creative Commons photostream
http://www.flickr.com/photos/quinnanya/2904370326
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The authors of the this blog write about Grand Rapids Real Estate,
the Greater Grand Rapids MI area, and what it is like to live in West
Michigan. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263