Anyone who is really interested in selling their home needs to pay attention to this. The success of your listing depends on it. The conditions described therein also apply here in the Greater Waterbury area. If you are going to guarantee that buyers vote on your house as the house to buy, then you need to be realistic about the initial listing price from the start.
P.S. the original poster is on vacation; I am not.
In a comment I made on home stager Sharon Tara's post, The Secret To A Fast Home Sale: Two Words..., I shared an approach I use with people who have a home to sell within Sussex County, New Jersey. Sharon encouraged me to do a post on it, as it might help others as well in discussing list prices with home sellers.
I commented: My phraseology is "The buyers are going to cast their votes. No showings means they have voted AGAINST your price. If you want your home to be elected instead of the competition..."
Even at my first meeting with someone who wishes to sell a home, I discuss general market conditions. Prices continue to decline in Sparta, Hamburg, Hardyston, Branchville - right down the list of all towns in Sussex - and are predicted to drop for the foreseeable future. While I will not have solid comps until our second meeting, I introduce them to my "democratic approach to list prices."
Basically, I let them know it is their right to set the price at which they will sell their home. A listing means they throw their hat in the ring and enter the race against all candidates - the other homes for sale. If they and I agree that I'll list their home, my job is to manage the campaign. Home buyers are the voters. We need to appeal to those voters.
Nothing earth shaking here, I admit. The real impact is when we're discussing the initial
list price and potential reductions down the line.
If we aren't getting potential buyers to look at a home, I remind the sellers that the buyers have voted. "Buyers clearly are telling us that they aren't interested in considering your home at its current price. Rightly or wrongly, the buyers do not perceive it as good value and they are looking elsewhere."
It does not always convince the homeowners to lower the price immediately, but they always begin to reevaluate their campaign platform...
P.S. I will be on a short vacation until June 1 but will respond to your comments then!
Courtesy of William James Walton, Sr. , Realtor, Century21 Access America
Serving northern New Haven and southeastern Litchfield Counties (Waterbury, Wolcott, Prospect, Naugatuck, Middlebury, Southbury, Watertown, Thomaston and Plymouth)
Call William James Walton, Sr. Real Estate Agent with Century21Access America (203) 558-7463 for help with your real estate needs -buying or selling - in Waterbury, Watertown, Wolcott, Middlebury, Southbury, Prospect, Naugatuck, Plymouth and Thomaston
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