I’m grinning right now because price is such a heated subject.
I took a listing last week, and priced it above what the owners ‘guessed’ it would go for … because I knew it would.
Price is NOT just a matter of a square foot equivalent of what sold recently or what’s listed up the street. There are intangibles like esthetics, curb appeal, amenities, updates and upkeep … along with the school districts… and…. the neighbors.
I’ve been amused by the variety of reactions from the people who have viewed it … having shown the house five times in just the first few days of listing it.
Prospect #1 felt it was overpriced by a good 10-12%.
Prospect #2 (Actually it was agent of the second prospect!) thought it was priced high based on square footage …. and indicated that they had just seen another home with 35% more square footage, priced at about what this one was. (Why didn’t they jump on that other one? Well… it didn’t have a pool … it had maintenance issues … and it wasn’t on as nice a street as this one.)
Prospect #3 was in “the tire kicking stage of the game”.
Prospect #4 submitted an offer – close to list price (6% below) … They were selling their own home, and about to close on that one … and looking to move quickly (which was fine, because this one was vacant).
Prospect #5 came in with a full price offer ….
Opinion of price varies from person to person! Who decides?
Everyone involved in the sale and purchase of a house determine it’s price … (listing agent … selling agent… buyer… seller… and appraiser). And normally the strongest negotiator has the most influence.
Looking to buy, sell, lease? We would love to help you with your next move ! The Restivo Team – EWM Realtors – Vicki and Alexandra 305- 793-1365 restivo.v@ewm.com
