Are You A Real Estate Loser

Dated: 03/05/2018

Views: 69

 Are you a real estate loser?

No one likes to hear the term "loser". The term "loser" is associated with the word to lose ..... something. In my last blog at www.hautepropertiesnv.com/blog/Learn+Stuff I mentioned a seller/buyer needs a agent with experiential knowledge. In terms of selling your home you may be losing profit at the time your home goes into contract. 

     The process of getting the most for your home costs you nothing. It's not complicated. 

As a listing agent, I want to make sure I get you the most for your home. It is too easy for an agent to list a home too high. Pricing a home way above the neighborhood sold comps may appeal to the desires of a seller.  

The problem is many online home buyers do their home work. They have an idea of how much homes should cost. If yours is overpriced they think "unrealistic seller". They may still look at the home or they may keep looking for a motivated seller. 

When a home is overpriced it  usually stays on the market too long. When homes are on the market for longer than what is perceived normal, the reputation of the house sinks. It sinks fast.  Buyers start thinking something must be wrong with the property. 

Pricing a home too low usually loses the seller potential profit. A seller may take less the the most the market was willing to pay. 

WHAT'S AN  EFFECTIVE METHOD OF RECEIVING THE MOST OF WHAT THE MARKET WILL BEAR? 

I like to use what I call the offer up method. Let's say your home comps for $350,000. You want to reach for $360,000. We call that your minimum price. (That's the least you have determined to accept for your home). I would suggest an asking price of $319,000 to $329,000. Why?  When the buyers look online you're going to get more lookers than normal. 

On NNMLS we write "seller to review offers on (pick a date 30 days after its listed).

Once offers start coming in buyers get frantic to get this property. Once a buyer puts in a offer they don't want to lose. They have "skin in the game" and will be highly inclined to bid higher. This is a proven method of driving up the price of the offers for your home. Fast. 

We don't sell until we hit a price for your home you'll accept. I have gotten several sellers more than their minimum or hoped for price. 

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