Price It Right
In today’s housing market, One of the biggest challenges real estate professionals (Realtor/Brokers) face is educating home sellers about how important it is to list correctly from day one. Home sellers very often want more for their homes than it’s current market value. Sellers will always be able to find an agent that will just go along with the overpricing just to make a deal happen. However, the best experienced agents know that being upfront and honest with the homeowner about the correct list price is more important than just making a deal.
The experienced Realtors/Brokers know that overpriced homes will take longer to sell and in many cases not sell at all. The homes that are not priced correctly will sit on the market longer, receive price reductions and statistically end up selling for less than homes that were priced right from day one.
Many times home sellers want to price their home in a way to build “negotiating room”, that is always a bad idea. Why? because when a buyer is searching online for a home (over 90% of buyers search online), they put in their desired price range. If a seller is looking to sell their house for $500,000, but lists it at $525,000 to build in “negotiation room,” any potential buyers that search in the $450k-$500k range won’t even know your listing is available, let alone come see it!
Our brokerage just recently listed a home in Folsom for $482k, priced it right from the start and received multiple offers up to $495k. When you create a bidding war with multiple offers, sellers are in a much better negotiating position. – John Leonardi, Broker
It is very important to hire a local real estate professional (Realtor, Broker) that is familiar with the neighborhoods or communities you are listing or buying in.
Leonardi Real Estate is a local boutique brokerage specializing in Folsom, El Dorado Hills and Greater Sacramento real estate.
Leave a Reply