When it comes down to it, the most important advice a real estate agent can give sellers is how to price their home. No matter how beautiful or well-maintained a property may be, how many upgrades it has or how well it shows, if a home is not properly priced, it's going to be a tough sell. The battle for agents most often lies with aligning what sellers' think their home is worth with its true market value. These disparate realities can be difficult to merge when working with a seller to set a list price or on a price adjustment. Here are seven pricing myths that often get in the away. 1. It is better to price the home on the high side because the seller can always come down. If buyers are interested, they can make an offer. Well, not quite. If a home is overpriced, a seller risks losing potential buyers who aren't stretching their search into an uncomfortable price range. The asking price sets the stage and may invite or dissuade buyers based on the dollar amount. Just ...
- Sellers tend to overprice and spend a tremendous amount of effort trying to defend their price, even if the market doesn't support it.
- Pricing a home correctly is a partnership between sellers and their agent, not a battle of wills.
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