In today’s housing market, (low inventory and lots of competing buyers) many people are opting to buy a brand new home from one of the local builders. Many people think they are being savvy to
Myth 1 When Listing Your Home Over Price It To Leave Room For Negotiating
Nope. Sorry. This is not a good idea. In fact, it usually works agains you.
So when your agent recommends a price for your home, resist the urge to add a buffer for negotiating. Why?
Most buyers have an agent too, and that agent will recommend a realistic price if they want to make an offer. And the buyer's agent is using the exact same data that your agent used to recommend a price for you. If your listing is considerably higher, most buyers will pass. Here are some reasons:
1. Contrary to popular belief. Most people don't like to haggle.
2. Buyer's will assume that if you priced it up there, then you won't come down here.
3. Most likely there are other homes that are closer to the correct price and they will gravitate to those.
So. Why not make your home one of those that are closer to the going price and let buyers gravitate to yours? You might even get multiple offers that drive the price up a little.
And the buyers without agents? You will find that they are avoiding an agent, because they think (erroneously) that they swing a better deal. And those folks tend to be the ones that will give you a low-ball offer.
Michael Barth is a full-time Associate Broker/Realtor with an extensive knowledge of the communities along the Wasatch Front. As the former owner of Sundays Child and Kona Ice he brings over 20 years ....
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