Biggest mistake sellers make? Pricing the house incorrectly …
Just for a minute, think how you react (as a BUYER) when you find a fabulous, well-priced home. You know that someone else may grab it unless you submit a strong, solid offer … fast..
When you’re selling … use that to your advantage. Price it very close what you expect it will sell for, to draw in a higher offer. If you price it too high (hoping for wiggle room and space to counter) you’ll tend to get lower (or low-ball) offers.
It’s human nature that when we find a house we feel is overpriced, we bid low – or we walk away … We may comment about it being overpriced … or maybe we just sit back and wait for the seller to get a reality check and adjust his/her list price.
And on the other hand, when we find something that’s priced ‘right’, we pounce on it quickly … (offering more!) … afraid that if we don’t, someone else might.
When you’re selling your house, look at (recent) “comparable closed sales” in your immediated neighborhood …. that sold within the past 90 days (to 6 months)… Use those as a benchmark, along with any relevant pending sales because those pending sales may well become the comps (if they sell) that an appraisers use to determine your appraised value … And look at the other homes listed for sale, because those are your competitors … vying for buyers…
List your home realistically and competitively … Don’t go too high for ‘negotiation purposes’! Buyers tend to pay more for a house that’s priced right … and they’ll lowball a property that’s overpriced. You’ll get more money when it’s priced right … and less if you overprice it …
Looking to buy, sell or move? We would love to work with you. The Restivo Team at EWM Realtors … Vicki and Alexandra … 305 793-1365 restivo.v@ewm.com
