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Old 06-12-2009, 10:18 AM
 
2,312 posts, read 7,196,730 times
Reputation: 900

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We're selling a small, empty house (no furniture) that needs a new kitchen in a grade A location in a top town in Monmouth County.

Our original deal fell through. First contract was signed back in Feb. We've contacted two brokers for prices. The first one gives us a price, 8% lower than what we originally went to contract for. The second gives us a price 12% lower than the original selling price.

My gut tells me to go for the lower price and that we'll have better luck selling quickly. I get the feeling that buyers get angry when they see houses they feel are overpriced. However my spouse is afraid that buyers will negotiate down from there and we might as well hang the higher price on it to allow wiggle room.

Of course we can always split the difference but that's wishy washy.

What to do?
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Old 06-12-2009, 10:24 AM
 
Location: Landing
55 posts, read 188,562 times
Reputation: 13
With a depreciating market obviously prices should be lower than they were a few months ago. When you were interviewing this agents they should have been showing comps for sales in your area. Go off these. The buyers always set the actual price anyway. Use the agent that you feel more comfortable with. Make sure they are willing to communicate to you on a weekly basis to let you know what is going on in your market. If it is priced right it will SELL!
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Old 06-12-2009, 10:32 AM
 
Location: NJ
21,367 posts, read 29,068,015 times
Reputation: 25161
Quote:
Originally Posted by clevedark View Post
We've contacted two brokers for prices. The first one gives us a price, 8% lower than what we originally went to contract for. The second gives us a price 12% lower than the original selling price.

My gut tells me to go for the lower price and that we'll have better luck selling quickly. I get the feeling that buyers get angry when they see houses they feel are overpriced. However my spouse is afraid that buyers will negotiate down from there and we might as well hang the higher price on it to allow wiggle room.

Of course we can always split the difference but that's wishy washy.

What to do?
I would start googling real estate agents in that area. (example - Monmouth County real estate)
Go to their company web site as well as their private site.
Example would be a remax office - from there you find an agent and get links to their sites.

I would go to realtor.com and look above and below price wise for similar houses. Take note of the better ads.

I would then pick a few of the better ads and google the MLS number to see how much more web advertising they are doing.

From there, I would pick 3 more agents to interview. I have a question sheet if you'd like me to DM you a copy.

Right now, online advertising is helping to sell houses. Any agent I pick would have to have an enhanced realtor.com page as well as decent photos.

When you interview 3 more agents, they will bring sold comps, hopefully that will help you decide where to price.

I wouldn't drag my feet or waste much time.
The market usually slows down in the summer.
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