Monday, July 13, 2015

 The Dangers of Setting A Home Price to High
 When you're selling your house, the obvious idea is to get as much money as possible. At times the Ego rears it's ugly head, and the end result is Overpricing. Most sellers think in the long run >>>
their going to make a killing. Most of the time overpricing a property will end up with a loss.
Always remember that today's buyers are on top of it.
1. You won't get offers (but your neighbors might).
So you've not listened to your Agent and have listed your home for $50,000 over the current market. Congratulations, as you have just helped your next door neighbor sell his home before yours. 
I can't say this enough "Listen to your Real Estate Agent"
2. Buyers aren't Dumb.
Keep in mind that buyers have computers also - and are very savvy. They've usually done the research and have a good idea of what homes in your neighborhood are worth and selling for. When you price too high, people might decide not to even look at your property. We all think we have the Best home in the neighborhood - but guess what? Buyers could care less - and you the seller would be the same way if it was reversed.
3. "Will you take......"?
Not everyone will want to take the time to negotiate over and over. If the price is to high, the buyer will just move on. The object of the sale is to at least get people in your front door.
4. Your turning your Agent into a Yes Man
Some - not all - agents find it difficult to tell their sellers what the Real listing price should be. You now have what is called a "signing agent". This is an agent that will agree to the price You give - just so he/she can put their sign up on the lawn. Beware!!!
5. Wasting important days
Have you heard of people selling their home in just 2 weeks? The reason is - they had their home priced correctly. The intelligent way to list your home is Not to try and impress your neighbors with an over priced listing. If you do it the correct way you stand to get multiple offers.
Pricing to high will only make you feel good. Let your Real Estate Agent advise you on this.
6. Your house gets stale.
If your house is on the market longer than 30 days, buyers will start wondering if their is something wrong with it, known as a stale home. All you are doing when pricing your home to high is setting yourself up for a major disappointment down the road, which could be getting less than you wanted.
7. People won't even see your listing.
Pricing your home includes many factors. For instance when a potential buyer looks up a property on the web, they usually set up search parameters by price. Hypothetically if your home is worth in the $419,000 range and you have it listed for $430,000, you will be missing the buyers searching for homes in the $400,00 to $425,000 range.
8. The house won't appraise at the high price. One very important issue is the Appraisal. If you're selling to buyers who are getting a mortgage -- in other words, most buyers -- the lender will need an appraisal. If the appraisal doesn't come in line with the current market, the buyer will not get the mortgage or home.
If you have any questions at all regarding the selling of your home, please give us a call and let us help you out.

BRE #00712580
Since 1979
302 N. Cleveland St.
Oceanside, CA 92054

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