By: Dennis Norman
We’ll pick up where we left off after parts one and two of this series about selling a home in this market:
Question- Now for the $64 question, how should a seller properly price their home in this market?
Answer- In today’s market sellers are in fierce competition with one another for buyers. A seller can do everything right in presenting their home from maintenance and upkeep to staging, but if the price is not appropriate buyers will move on quickly. The simple truth is, there is another seller around the corner ready to set their price to appeal to the buyer pool. Unfortunately, an over-priced listing in today’s market sticks out like a sore thumb. A professional REALTOR(R) should be able to assist a seller in pricing their home appropriately for today’s buyer.
Question- What should a seller do after listing their home if they find they are not getting an adequate number of showings?
Answer- I hate to keep bringing up price, but the first thing to do would be to take another look at comps and their price relative to the market. I believe the most important part of pricing a home in today’s market is being aggressive from the onset. A seller chasing the market down will end up selling for less than if he had priced their home aggressively in the beginning. Sellers need to find a REALTOR(R) that will tell the seller what they NEED to hear, not want they WANT to hear. The problem with testing the market is the seller misses their best opportunity to draw in the pool of buyers in the market when they enter.
Below are useful and informative links to help the Seller:
LIVE St Louis Market Data – Home Prices, Sales and MORE!
How to sell your home for the highest price in the shortest time
10 Common Mistakes Made By FSBO’s (For Sale By Owner’s)
How to Choose a Real Estate Agent
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