|
We
do it, because knowledge is power! We want to know what real
estate listings are available, in what area and at what price.
The longer we look, the more knowledgeable we become. We get
to know which real estate listings represent good value for
money and which listings don't. We get to know which homes
stay on the market whilst those around them get sold.
Checking out the
latest real estate listings is an essential and valuable tool
when buying or selling real estate. By regularly searching
the real estate listings we get to know which properties are
over priced. They are the ones that stay on the market for
months, giving the impression that the seller is not really
be interested in selling. And, when we find a home that's
over priced, we usually just cross it off our list and move
on to the next listing. The real estate agents do the same.
After all, there are plenty of other real estate listings
worth following up.
However, over pricing
a home is not always the sellers' fault. Deciding the true
value of a home isn't an exact science. That's why many home
sellers make the mistake of setting their asking price too
high.
And to be fair,
most of us believe that our home is "worth more"
than the one down the block that was just sold. Besides, if
we are wrong, we can always drop the price later, can't we?
Well, yes that's
true, but by then several potential buyers might have been
lost. The seller may also have driven off interested real
estate agents (Realtors are a prime source of buyers).
So, it is important
to get the real estate listing price right from day one. Because,
when listing a property for sale, the first 30 days are the
most critical. The first few days is the time when most buyers
(and real estate agents) will see the real estate listings.
The first month
on the market is the key. BUT... when a property is over priced,
or stays on the market too long, interest wanes. Potential
buyers (and real estate agents) will be suspicious, ignore
the listing, or they will simply move on to another property
that is more realistically priced. So, that's why the initial
30 day period is critical when listing a property for sale.
Some sellers, however,
believe that if someone is really interested they will counter-offer.
Yes, that may or may not happen. But, there is the risk that
well-qualified buyers may just walk away, never to return.
The proven fact
is; over priced real estate listings turn many buyers off.
Still, a seller
wants to be confident he or she is getting the best price
for their home. The way to accomplish this is by talking to
one or more real estate agents, or hiring a local home appraiser.
This needs to be done before deciding on the asking price
or listing your property for sale.
A real estate agent
or home appraiser will be able to provide a comparative market
analysis. He or she will inform the seller of what similar
homes in the area have sold for recently. The seller then
needs to compare his or her own property to those recent sales.
And... personal sentiments need to be kept out of the equation
when calculating a fair market value.
In short, over
priced real estate listings usually lead to unsold properties!
For
more information on how to sell your own home for sale by
owner fsbo.
Related
Articles:
© Noel
Peebles, Market Leaders ebooks.
|
