(305) 793-1365 restivomiami@gmail.com

What’s that house worth? Who decides the price?

August 20, 2012

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

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

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