When Your Selling Price is too High, Beware!
What Happens Behind the Scenes
If you
start out with too high a price on your home, you may
have just added to your stress level -- and selling a
home is stressful enough. There will be a lot of "behind
the scenes" action taking place that you don’t know
about.
Contrary
to popular opinion, the listing agent does not usually
attempt to sell your home directly to a homebuyer. That
would be inefficient.
Listing agents market and
promote your home to the hordes of other local agents who do
work with homebuyers, dramatically increasing your personal sales
force. During the first couple of weeks your home should be a flurry
of activity with buyer’s agents coming to preview your home so they
can sell it to their clients.
If the price is right.
If you and your agent have overpriced,
fewer agents will preview your home. After all, they are Realtors, and
it is their job to know local market conditions and home values. If
your house is dramatically above market, why waste time? Their time is
better spent previewing homes that are priced realistically.
© 2000 by Terry Light and RealEstate ABC, revised 2004
|
