By Jon Fletcher
In today’s market, homes that are PRICED RIGHT and SHOW WELL are the homes that get sold. And GREED kills! I had a seller a few years ago who asked too much for his home. I told him that, but he insisted to come on the market at $250,000, after all of the data I showed him indicated around $235,000. He had very few showings, so I told him to reduce the price. He refused, but did come up with a timetable of price reductions for the following months. When each date came, he refused, claiming his wife told him not to lower the price. Finally, with three weeks left on the listing agreement, he said “okay, lets lower it to $239,900. If you can’t sell it in the next three weeks, I’m going to relist with someone else”. Listings get “stale” after they’ve been on the market too long, and his house was a prime example, and it didn’t sell. Then he listed with another agent, coming on the market at $225,000. Finally it sold a few months later for – get this – $206,000! I am absolutely convinced that, had he price it right to start with, he would have but at least $25,000 more into his pocket. Greed…..it kills!
My next seller tips will talk about making your house show well for a potential buyer – check back for it!