Why You Should Not Over Price Your Home

Why You Should Not Over Price Your Home

Here are three reasons why shouldn’t over price your property.

  1. Fewer Buyers
  2. You Just Help Sell the Competition
  3. Frustration for You & Your Agent

Fewer Buyers: You just over priced your home for qualified buyers that are looking for a certain price range. When you alienate these buyers they never see your home. Buyers today are very educated when searching for homes and they know the value of properties. If they don’t you can be sure their agents know and they will advice them that your property is overpriced. This of course results in less buyers viewing your home. Less buyers less views and less or no offers.

Buyers Agents
Price It Right the First Time and You’ll Attract More Buyers

The Goal: Get as many qualified buyers to view your home and price has a lot in attracting them. So you need to price it right the first time.

You Just Help Sell the Competition: When buyers compare your over priced property with others in the same neighborhood they feel good when they make an offer on your competitors house because now they feel like their getting a deal. Buyers as I mentioned are educated when it comes to finding a home at the right price because they don’t buy the first home no matter how much they like it. If it’s overpriced they can’t afford.

Frustration for You & Your Agent: Some agents will take your overpriced home for many reasons but a good agent understands that for the home to sell at top dollar and quickly the home has to be priced right the first time and never overpricing it is pricing it right. Most sellers feel their home is worth more than everyone else is but a honest agent will tell them the truth. When a agent speaks up it saves you the seller and your agent from being frustrating when the home doesn’t sell.

When I mention overpriced were talking tens of thousands overpriced not just thousands.

My advice when it comes to pricing your home right the first time is to you really do your homework and find out what other comparable homes have sold for and if the market is rising, leveling off or is it in a down cycle. If you are set in your over pricing and your agent recommends a more realistic price you need to get in your car and view your competition to see what buyers see. This will help you understand where you realistically need to be in pricing your home.

When You’re priced right the first time you will have more buyers viewing your home and the more buyers viewing the better chance of getting your asking price and even better having multiple buyers fighting to win your home and possibly making more. It’s not unusual to get thousands more when you price it right the first time.

Why Real Estate Agents Are Like Coaches

Why Real Estate Agents Are Like Coaches

A coach is someone who has the knowledge and skill to win or succeed. They have the experience in winning and losing. The difference between a great coach and a average coach is that the great coaches don’t make it a habit of losing. As a coach you can’t win them all but you still can win the championship if you win enough games.

Like coaches real estate agents are in the game of buying and selling everyday and the more transactions they have the more knowledge and skill they gain. The difference between a skilled real estate agent and a coach is that a real estate agent wins most of the time which is great for their clients.

Why Real Estate Agents are Like Coaches
Why Real Estate Agents are Like Coaches

A coach trains and teaches his players how to be their best so that they can win the game. They don’t sped hours training to lose. The goal is to have the skill and knowledge to succeed. If the players don’t follow the coaches advice and train properly they have a good chance of losing the game and will not make it to the championship, which is the ultimate goal. Real estate is no different, the goal is get the house sold for top dollar or win the bid to purchase at the best price.

When you have a great coach or a great real estate agent it’s important to listen to them because they have the knowledge, experience and skill to succeed. But of course it’s up to you to listen to the advice of the seasoned coach. My experience is when a client understands that I have helped others buy and sell and have been successful in getting them their desired outcome and it was smooth transaction, everyone walks a way feeling like a champion.

When your thinking about working with a agent make sure you pick a winner who has the knowledge, experience and skill and who will make it a joy to work with so that you can become a champion in your real estate transaction.

Helping People Who Are Thinking About Buying or Selling a Home to Understand the Real Estate Process and to Be Successful in Making a Educated Decisions.