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We are about to sell our home.
When we sold our previous home 30 months ago the realtor said to price it for what you want to sell it. Don't price it in anticipation of cutting the price. So we did and it sold for 99% of asking price.
We are pricing our home now and our realtor says things have changed.
People expect to be able to get a bargain and paying asking price for a home is like paying list price for a car. No one does it.
And many people around here put in bids of 20% off asking price.
I disagree with the new realtor.
But then, I'm not a realtor, nor have I sold in this area.
Thoughts?
I'd like to sell the house for $492K. I think I'd have a better chance at selling it for that by pricing at $498K than $539K
If that is your range, price it exactly at $500K so the people filtering on $500K and up will see it and the people filtering $500K and below will see it.
Know the comps. There is no such thing as "new economy". It's all comps.
If that is your range, price it exactly at $500K so the people filtering on $500K and up will see it and the people filtering $500K and below will see it.
Know the comps. There is no such thing as "new economy". It's all comps.
That's a great point about the filters and dead on about the comps. Ask your agent to share the closed comps with you, and ask her for the listings on your immediate competition.
There is no new economy, but everything is exaggerated. In the past, sellers thought their home should have sold for more......Now, they faint. And I think that is why she is coming up with this strategy for you. There just haven't been many sellers with realistic expectations -
A lot depends on your motivation for why you are selling. If you are in a crunch, undeprice it and move on. If you can wait and go through a few "price adjustments" and let it sit on the market awhile, do that.
In any event, find out what the comps are through a professional long term Realtor and take his/her advice. Overpricing in any market is a big mistake.
You want to price your home to be the best deal for the money.
Three tried and true reasons why a home does not sell:
I agree with your first realtor advice and price it as low as you want to go on the place right off the bat. Many buyers will always try to lowball, but even more won't even look at the place if the starting price is too high.
I think I have my answer.
A simular house (I have a yard, slightly larger house and a 1 car garage, they have a 3 car garage)
was priced at $495k and sold for in 5 days.
I'll be selling in March, want to be out in July as wife starts her job in another city then.
I'll be living in the house and have a good job until it sells.
I can make about $20K more in the city so I'd like to go, but I wont be hurting if I dont
Here is an article about the place if anyone is interested.
Price it to sell with an experienced Realtor. The best buyers and best offers usually come in the first few weeks. Why? because folks waiting for properties with those amenities have brokers searching for them and will show it as soon as it comes on the market. After that, you will most likely sit and wait.
Wish you the best.
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