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Barb Schlinker Radio Show
Your Home Sold Guaranteed Realty Colorado
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Why is it important that Home Sellers need to understand about deciding on an asking price for their home?
Most buyers shop just below their maximum sales price. Many buyers shop in $50K increments.
There is always someone who is a distressed seller in the area and will reduce the price uncommonly low. I’m not suggesting you do that but You want to be the BEST HOME on THE BLOCK
We offer, in-depth pricing consultations when we meet with home sellers to price their homes Realistically Vs Optimistically.
Here are the common pricing mistakes:
- Pricing too high for “NEGOTIATING ROOM”
- Buyers fear making an offer if its priced too high.
- Pricing based on THE COST OF THE IMPROVEMENTS
- Not all improvements will net 100% or more of the investments.
I’ve had home sellers that have priced optimistically then slowly walked the price down. During that process rejected an offer, then subsequently sold the home for $40k less than the original offer which was less than their original Optimistic price.
Asking $950K, offer $899K, rejected, months later, sold for $860K
Should a home seller pick an agent based on asking price?
Most home sellers rely on the advice and expertise of their agents:
Sellers don’t have access to similar sales only Zillow. Most agents do not walk them visually through similar sales to compare how their home will perform against others. Buyers pay a premium for most cosmetic upgrades, (in seller’s control), views, condition. Sellers should also put their buyer hat on and look at the current competition. What can a buyer get for that price range is a clue as to whether their home will sell in that price range.
Highway 24 Story:
- Seller used the advice of another agent, 6 months of summer went by with no contract.
- Agent dodged, blew them off for a meeting about the lack of results.
- Ultimately hired me.
- Priced it realistically and it sold in 2 weeks.