Real estate agent’s have recently commented that although homeseller’s say they are desperate to sell, 90 percent of their listings are priced too high to sell right now.    So, what should the motivated seller consider before pricing home, if they truly need to sell???

Rule #1: Never Chase the Market Down:

Many seller’s make the mistake of overpricing their home when it is first listed, then they continue to lower the price month after month.   The results of this strategy are always POOR.  

Why?  A listing receives the most attention from serious buyer’s and agent’s when it is NEW.    Seller’s who overprice from the start, waste the most valuable exposure time the property will ever receive.   Seller’s have only one chance to make a good first impression.  Everytime the price is lowered, the only impression the buyer gets is that the house is overpriced and the listing is stale.

If you are serious about selling, get serious from the start.  Experience proves that homes priced to sell, from Day 1 on the Market, are the properties that sell the quickest and for the most money.

Rule #2:  They Can Always Make an Offer

Seller’s and agent’s who utter phrases like “let’s see what we can get”, “leave room to negotiate” or “they can always make a an offer” are people which are very likely to be sitting on an overpriced home.

I don’t want to offend anyone who has uttered these words, but… Let’s be real.   NO ONE writes offers on overpriced homes.  Today’s buyer’s are not in a hurry.  They wait on the sidelines for months and months, happily and patiently renting, until the market comes down.  There is absolutely no urgency or incentive to pressure a buyer to make an offer on a overpriced property.

Rule #3:  Be Clear About Why You Are Selling

If you aren’t serious about selling, or you don’t have to sell, please take it off the market NOW.  Overpriced property creates more inventory, which no one needs.  And, overpricing encourages buyers to stay on the sidelines, which drives down asking prices even further. 

If you NEED to sell your home, Price it to be the BEST HOME in your neighborhood, at the BEST PRICE!!!  Do this from the very first day you put it on the market.  If you do so, your home will sell for more money and in less time than those listed by seller’s and agent’s who continue to think they can test and fool the market.

Thank you for visiting Why6Percent.com.  We are always here to help you with the sale of your home, even if the current market conditions are painful.   The truth is that Homes are Selling.  Please check our site for some great deals on houses seen no where else on the web.  Leave your comments and experiences here, or post anonomously in our forum.