Maybe it’s just me but I still really believe the real estate marketplace is truly self leveling. Some sellers might think there is nobody out there looking at what it is they are trying to sell. Most of them also feel that their agents recommend a lower price just to make it easy on themselves with no real regard to what the seller wants. Contrary to that, I find agents are usually very mindful that their job as a listing agent is to get the most money for a property they can, given the market conditions. So listings usually start higher just so the seller can rest easy at night knowing they tried and then it slowly edges down as sellers realize no one is biting.When you find the right price…and these days that means reducing it four or five sometimes…. buyers tend to jump out of the woodwork. It seems like there are a lot of eyes watching the market and when the seller finally finds that “sweet spot”, suddenly you got offers comin’ out your ears! So if you are a seller and you are frustrated that your property hasn’t sold yet, rewind the tape and remember what your agent recommended in the first listing appointment and listen again…perhaps you never really heard it the first time. You might have the right agent doing all the right things but if the price isn’t right there is no manner of effort that will change the facts!
Posted In: Real Estate Market Trends and Insights