So you’ve got a great offer on your home, and you are ready to move forward at nearly full list price, BUT the buyer wants your refrigerator… Are you really willing to kill the deal over a fridge?
Unfortunately sellers can get stuck in the mindset of what they aren’t getting versus what they ARE.
While our market has improved considerably in the past 18 months, it is still a price war and a beauty contest to get a home sold. In order to motivate buyers to make offers you must not only be priced right, you also need to have features that are superior to the competition.
We are seeing homes that sit on the market month after month are priced at the market average rather than priced aggressively.
The most interesting part of this is that the we are seeing sellers who are pricing 5% below current market averages receiving multiple offers, and many times selling for 10 – 15% OVER the market average price due to multiple offers and bidding wars.
When you price your home ask yourself the following questions
1. How soon do I need to be out?
2. What are similar homes in my area selling for? What is the least I’m willing to stomach in comparison to their sales? Time and time again national statistics have shown us that on average, the lowest priced homes have the highest final sales prices!
3. If I were a buyer what would I pay for my home in comparison to homes in my area? The key here is to force yourself to be objective and remove emotion from the discussion.
Finally, you’ll need an agent you can trust. Ask them about their internet marketing plan. And ask to see specific examples.