Every time I am asked the question, “what is the most important factor in a successful real estate transaction?” my answer is simple; a property has to be put on the market at the Right Price!
The correct price is simple. It is the price that a qualified buyer is willing to pay for a property.
As you read this, you are probably wondering, of course, why would anyone want to price their property any other way? However, there are many properties on the market that are not listed at the correct price to sell.
From my experience, many sellers tie the hands of their real estate agents. Sometimes they have a wrongly preconceived idea of what the price of their property should be. This could be based on rumors, or what they heard about their neighbor’s property being sold, or what they need to pay off their debt, or how much they want to leave, or other factors that have nothing to do with the correct price of their property. What you will sell for It is up to your listing agent to educate them by showing them similar properties under contract, new listings, which would be your competition, and expired listings, which are generally properties that are priced too high.
If they are non-negotiable and insist on an unreasonable listing price, the Listing Agent has several options:. He or she may back out or suggest that you list the property at the seller’s suggested price for a limited period of time. If there is no interest, your listing agent should come back and renegotiate the listing price with them. If an offer is lower than the list price, it would be up to the sellers to counter it at a more realistic price. Of course, there are other factors that come into play with getting the price right; Condition and current market trends are some of those factors.
Using a listing agent who will give you the full picture of what similar properties have been selling for in your area will help you make a decision and list your property for sale.