OH! THEY Based Their Price on THAT listing!

“I jumped over the cliff because HE jumped over the cliff.”

“Well – Everyone ELSE was doing it, so I thought it was COOL!”

My NEIGHBOR told me she’s seen inside that house, and MINE is MUCH better.

I’ve got a $237,000 swimming pool and outdoor living area . . .

My curb appeal is WAY better than all of those other houses.

OK!

We’re not in grade school any more.

Just because someone else is doing it doesn’t make it right . . .

Other than the Local Real Estate Professional, Guess who’s most likely the best person to ask when it comes to determining the pricing of your fabulous home (Assuming you would like to sell)?

It’s NOT the neighbor . . . or the other houses that are currently on the market . . . or your friend’s Mother who used to be “in the biz” . . .

Find yourself a real, live BUYER in the marketplace and ask THAT person.

Why?

Today’s Home Buyers probably have the most Niche Specialized knowledge of anyone in the entire market BECAUSE:

  • Odds are good, they started the process of looking on-line 18 months + ago
  • They’ve probably been INSIDE all of the houses that are currently on the market, and they KNOW those houses.
  • They know what they want, so they’ll know “it” when they see “it”
  • they’re great noticers and can sniff out aberrations
  • They don’t really care how much you spent on all of those glitzy extras . . . They appreciate your attention to detail but won’t pay you face value for them.
  • they’re not in as much of a hurry/desperation as you might think – remember, they started this process 18 months ago . . . they can wait for another house with a tastier price.
  • Appraisers won’t see it your way if your price isn’t in alignment with their professional opinion of value

the point of this post is not so much intended to burst the bubble for Home Sellers . . . It’s to offer a strong dose of the reality of most active markets.

A shortage of inventory does not necessarily create a feeding frenzy of buyers who will throw all caution to the wind and pay whatever the Sellers ask them to pay.

These Buyers are SMART and EDUCATED and AWARE.

and guess what?

Many of them know your neighborhood WAY better than you do.

Of course these buyers aren’t Branded “Prospective Home Buyer” on their foreheads, so how can you find them?

OH!

The answer to that question is simple.

Find the REALTOR who specializes in your local area and has worked with multiple Home Buyers . . . Ask that professional who’s been inside the heads of local Buyers, and you’ll get some real juicy insider information.

And when you’re ready:

  • Schedule an appointment with the Local Niche Real Estate Sales Pro
  • Prepare your house accordingly (Stage it, fix what’s broken)
  • Consider the RECENT, COMPARABLE, CLOSED sales
  • List the house at a price that won’t repel the Buying public

None of this is about what you “have in the house” or “Need” or “Want” . . . Although we ALL hope that your selling price aligns nicely enough that you’re able to transition to the next place.

Don’t drag this process out by cutting corners and/or imagining a listing price that doesn’t make sense . . .

Published by Barry Owen

Strategist-CEO of Pareto Realty Real estate sales Professional Inviter-Facilitator-Practicer of Open Space Technology Opening safe space for people & organizations to self-organize around issues & opportunities BarryOwen.US Invite-Listen-Love

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