|Posted by Nataliya Romanenko on January 11, 2015 at 10:15 PM|
Sadly, most of the Sellers tend to overprice their homes when they intend to put it up for sale. It is their most precious possession and understandably, they value it for so many reasons. Overpricing is a risky game to play. Lack of knowledge about the current market conditions or emotional attachment can also play a role in how Sellers will price their property. So many times we’ve seen that Real Estate Agent just goes with what the Seller wants, so they can just get a listing and hopefully in the process of getting that listing, Real Estate Agent must find a way to educate clients about what they can expect realistically. Overpricing a property will not be in favor of anyone; as a result seller will eventually be frustrated, because their home sits on the market for longer time and the agent must keep up with the marketing which is expensive. My advice to any seller, who is looking to sell a home, is to consider factors like moving time frame, condition of their property and Current Real Estate Market pricing on similar properties that have been recently sold or on the Market for Sale. The truth is that Real Estate Agent does not sell a house. The Market dictates what the property is worth and only with the price what a Buyer is willing to pay. Your Real Estate Agent can hold Open House everyday and have lots of exposure on your property introducing it to potential buyers. But if the price you want for your home is higher than what the home worth, then everyone’s time is wasted. Leo Tolstoy wrote: “Do not fear lack of knowledge, fear false knowledge” and in this case not knowing what your home is worth is better, since you can consult professional, who will price it correctly, based on comparables of similar properties.