Rebecca Serwotka – “We sell houses! It’s what we do, it’s ALL we do!” Your favourite local property expert, of Inmobiliaria Real Estate Agents in Ciudad Quesada & published author of “Moving Forward – 25 Essential Rules For Buying & Selling Real Estate Without Going Crazy.” Request your FREE copy today! Featured on Best Buy Spain.
When selling your home establish realistic expectations upfront about its price.
Some home sellers believe that it’s best to price their home high and ne-gotiate down. The novice agent will buy into this concept when the seller suggests it, but an experienced agent knows the golden rule – overpricing a property will ultimately under value it in the end. At first glance, it seems to be a good idea, but it can be disastrous to profits.
If a house is priced too high for too long, it will often linger on the market, and observant buyers will be suspicious as to why it’s not selling. Then if a realistic offer is made, the seller is often insulted that someone would of-fend them with such a “low offer.” But in reality, the offer made by the buyer is just fair market value or close to it.
Pretty soon negotiations begin to ping back and forth, and it becomes mo-re of an arm wrestle than a fact-based process. By overpricing a property initially, a homeowner is actually at a disadvantage against the other homes in the area.
When buyers view your property, comments will flow about what is mis-sing in the home in comparison to the other houses seen on the home tour. Because of the elevated price, the seller’s property is psychologically thrown into a different class of homes. Their higher-priced home will be categorized with properties that have more amenities, or square meterage and in comparison with other homes legitimately priced in that range, it will appear to be lacking in value.
Price your home according to market value.
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