Realistic Listing Prices
Getting-in-shape and selling your home. What’s the one thing they have in common? People often hear what they want to hear.
If you’ve ever tried to get back in shape, you know there are a lot of claims that sound too good to be true. The kind promising amazing results in record time. A lot of people fall for those claims, but after a few weeks or months, realize what they were promised isn’t what they’re getting. Then they realize they’re stuck in a contract they can’t get out of - at least not without great expense.
These folks start asking themselves things like, “Why did I fall for this? Why didn’t I do the research and trust the science? I’d be much further ahead by now."
When it comes to selling a home, many people fall for the same tactics. Only, this time the financial stakes are much higher.
The broker that presents sellers with the highest asking price often gets the listing. But what happens when that asking price isn’t rooted in reality? Sellers see that inflated listing price reduced - often by tens of thousands of dollars or more - just weeks or a month into the listing. This has negative knock-on effects beyond just a price reduction. Drastic and immediate price reductions suggest a desperate seller or potential issues with the property. Neither of which are likely true, yet negatively impact your ability to sell.
When you’re looking for a broker to help you sell your home, it’s important to get it right the first time. This starts by asking the right questions. Ask about things like trends in the current market, similar properties that are for sale, and the prices of similar properties that recently sold.
Most importantly, ask a broker to show you the work behind their calculations when they give you their advice about an asking price. And don’t forget to ask them how being in a hurry to sell or not will make a difference in their sales strategy.
When you have answers to these questions, you'll be able to see for yourself whether the broker’s advice is sound or an unsubstantiated attempt to woo you with a flashy initial listing price. A realistic price may not be what you want to hear in the first place, but it will be the price that will get your home sold with the least stress possible.
If you have a house to sell, let’s have a coffee. We’d be happy to look, listen and give you real talk and honest advice.