Why NO offers on My House For Sale?
In todays market, home buyers don't make offers on overpriced listings Here’s why: • Their agent knows it won’t appraise! In the “post-crash” real estate market, sellers (and agents) need to be spot-on with pricing. Otherwise, the listing will languish. • They don't want to offend the seller. It goes against human nature to offer substantially less than asking price to a seller. It's insulting to the seller and embarrassing for the buyer. • Buyers erroneously believe that the seller knows the home is overpriced. They believe that if a seller would be willing to sell for less, the seller would simply lower her price. • Buyers also assume that the seller must have turned down low-ball offers from other buyers because surely someone, somewhere along the line, had offered a reasonable price to the seller. But many times, there are no offers at all. https://www.thebalance.com/looking-twice-at-overpriced-homes-1798671 There are ways you can get the price right from the start. First, one of the biggest mistake seller’s make is listing their home with a real estate agent who does little, if any business in your neighborhood, like a friend, or someone they know who’s an agent. Deep knowledge of the area is vital when pricing your property. It’s important to list with someone who can do a thorough analysis of the area and also know the private sales, when they do occur. In the downtown area I live, at least 10% of all sales never show up on the MLS, making it very difficult for outside agents to keep up with this critical information. It may be just the comparable you need for your house to sell at the very best price! Lastly, do not despair if yours is a Withrawn/Expired listing. Again, the most important consideration when re-listing your property is finding the right price point for your area. Get new eyes on the interior/exterior so that small things can have big impact. Listen to feedback! Sometimes, the property just needs a refresh with new paint and “editing”- removing items from the home so that spaces appear larger, cleaner, and uncluttered. A home “refresh” with some new paint and small improvements can really make a big difference. If the property’s s been vacant, consider professional staging. Buyers have difficulty seeing the home’s potential, so it helps immensely to create a vision. These are all important considerations when evaluating the listing agent’s ability to sell your home, maximize your property’s value, and saving you time and money. Next up- EXPECT MORE FROM YOUR AGENT