Homeowners hire Realtors because we have sold significantly more homes than they have. Most people buy and sell a half dozen homes in their lifetime. Obviously, most Realtors would handle more home sales than that in just a month or two. So, we do have more experience about how the process should work.
When working with a seller, one of the hardest things, if not the hardest, is educating them on the appropriate list price for their home. It's an old story, that many Realtors have told before, but it is still difficult to explain to the seller why their blue counter tops that they love so much, just aren't going to appeal to the majority of buyers out there. It's easier said than done to tell them why the home they live in with the backyard that backs a now busy street is going to be hard to get the same price tag as the one up the street with the same floor plan that has no rear neighbors or street noise.
Yep, they love their home, someone else will love it just as much......maybe.....hopefully....definitely, .....if it's priced right.
We, and Real Estate Appraisers, have to look at comparable properties, homes that have sold in the area. We look at size, location, condition, amenities. And, so does the buyer. Every person involved wants the best situation. The most proceeds for the seller, the lowest price for the buyer. The appraiser wants to find the comps to validate the purchase price. The agents don't want any upset buyers or seller if it does not.
Start with the right list price and problems will be reduced. Don't list it for too low to get in buyers, you'll just frustrate agents and buyers alike. Don't list high to negotiate later, you may not get an offer for 60 days and end up with a stale listing.
Evaluate what your agent is saying, you hired them for a reason. If the comps bear a 650K list price, don't list for 750K, and if an agent is willing to list too high? Hah, they'll just badger you into a price reduction soon anyways.
Gotta tell you, I shoot from the hip and tell it like it is when I go in for a listing appointment. Because I work on a huge referral basis, people trust me, accept my recommendations, and let me get the job done. When I work with a stranger and they want to list high? They generally don't like what I have to say, select another agent, then sit, get stale, and reduce their price tag to where I originally suggested to get it sold.
Glad they finally listened to somebody.
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