The Realistic Asking Price: Talking Sellers Down from a High Horse

All sellers want to eke every possible dollar out of the sales price of their home, prompting many to overprice in their initial sales attempt. Without the right real estate selling tips, this could turn out to be a painful lesson. Do you have the skills necessary to talk sellers down from their high horse and ensure a safe dismount into reality?

Help sellers understand why higher is not better
They don’t have the intricate understanding of buyer psychology that you do, and may overlook essential issues with their high-handed pricing strategy – such as the fact that buyers always want the best deal, and often walk away from higher-priced homes eager to snag those of better value nearby – even when a higher-priced home is far preferred.

Why shouldn’t sellers “test the market”?

  • Wasting precious time.
    The first 30 days are when new listings see the most action –overpriced homes skip this honeymoon period. Your best chance for multiple offers and a fast turnaround is to list right.
  • The “drive-by”.
    Today’s buyers are smart, and won’t even kick the tires of overpriced homes – even if the home comes up within their price-search parameters.
  • Helping the neighbors.
    Buyers perusing overpriced homes often flock to other homes in the neighborhood with lower-priced listings.
  • Buyer stress.
    Higher prices don’t leave more room for negotiation, they stress buyers out, who typically do not enjoy this process and are eager to take advantage of competitively priced homes versus the stress of constant haggling over their largest investment. And if your home is overlooked because of price? No negotiations.
  • Two words:
    Appraisal value.
  • Forced price reductions.
    After the home is stale and no one bothers to look at it any more, forced price reductions earn less than a realistic price would have anyways.

Do you have the real estate selling tips you need to help homes shine? Properties Online can help. Contact us today.

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