SELLERS it's the PRICE
Sellers – It’s the PRICE!
I’ve listed many homes and the sellers always think their home is worth more than it is. My wife thinks our home is worth more than it is – that’s just how it works. If you own it – it has to be worth more. Most agents do the best they can to come up with a reasonable market price for a home using the CMA, but in nine out of ten cases the owner wants to try a higher price.
Most agents will allow this with the understanding the owner/seller will reduce the price after two to three weeks if there is no action on the home.
In about 50% of these cases the owner/seller does reduce the price, but in the other 50% the owner/seller blames the agent.
This is like the story of the man who comes home from work early and finds his wife making love to the neighbor on the couch. He gets mad and throws the couch out.
In today’s electronic world where the MLS is available to all; all agents and potential buyers see all listings. It isn’t the listing agents fault if an overpriced home doesn’t sell – it’s the price – it’s too high.
The owner/seller simply doesn’t want to accept the fact the home will not sell at the current overpriced amount. Better to blame the agent.
I listed a home at a price outside the CMA market evaluation and the owner/seller refused to lower the price. I lost the listing after having the home on the market 90 days and the owner listed the home for the same amount with another agent. When the home didn’t sell again, they did reduce the price to what I told them to list the home at, and it sold. To this day the owner still blames me.
One important secret most agents will not admit. Listing agents don’t sell homes, they list homes. If they list at or near the market price the homes will sell. No agent, no matter how good they are can sell ten dollar bills for fifteen dollars each.
Sellers if your home isn’t selling after 30 days, it isn’t the agent. Your home is priced too high - it’s the PRICE, not the agent.