COMMON MYTHS AMONG SELLERS

“If I ask a higher price I will get a higher price.” So many sellers do not want to heed their broker’s advice on how to price the home. We understand there’s a number the seller would like to get, however, pricing is an art, based on market conditions and comparable properties recently sold in the area. The broker’s job is to price the home correctly so it actually sells, vs. sitting on the market.

 “I’m not taking my first offer- if I got such a good offer right away, it must be worth much more.” This is the number one biggest mistake sellers make. Your first offer is almost always your best offer, provided it’s within striking distance of your target price. You save months of showing inconvenience, months of HOA costs, months of repairs and mortgage payments. Your fresh new listing gets the most attention during the first week on the market. After that, inquiries drop off significantly. Also, let’s not forget that a buyer’s offer is simply a starting point- there are negotiations in your favor that follow it.

 “I don’t see why I have to paint or de-clutter my home - we love it just the way it is. So will the buyers.” Unfortunately this is very wrong indeed and a delicate issue brokers will need to coach their sellers on. It’s important to show the property in the most neutral condition possible so that buyers can envision themselves living there. Yes, it does require some effort and minimal expense but it will make the difference between selling and languishing on the market.