I am pretty candid with sellers when I go in their homes to meet with them about listing their property for sale. I tell them, “I cannot sell your home, only you can.” I know what you are saying, “But Dan, you are a Realtor, that’s what you do…you sell homes.” No, I market homes, create showings, and give you an opportunity to sell your home.
You have the final say if you are going to sell your home and at what price. If it were up to me to sell your home, I would go into the local MLS and change the price of all the homes I am listing. Moreover, I would change the price so the home sells in a week to 30 days. Now you’re saying, “But Dan, you would give away my home for nothing.” No, no, I wouldn’t. But I would price it according to the market data so it fetches an offer in a week to 30 days.
There are sellers who are sitting on homes that are overpriced anywhere from $30,000 to $900,000, and even more. Their homes will sit on the market for 3 months, 6 months, a year, two years, and over that time, the sellers begin competing against themselves. You know what I mean: they priced their home at $650K, three months later, there’s no offer and they lower it $615K, then six months later it’s $599K, a year later it’s $549K, and so on. The seller has had no offers and they are competing against themselves by reducing the price and chasing down the market. Does that sound like a strong selling strategy? I think not!
Why not just price it below the market curve and sell it right out of gate? How does carrying the home for 3 months, 6 months, a year, or two years including the time, aggravation, and expense make sense to anyone? The days of some fairy tale buyers coming off the street and overpaying for your home are long gone. Buyers are too smart these days, too savvy, and have done way too much home work.
Remember, for each day that you don’t sell your home, you buy it. I can’t sell it for you because my name is not on the deed. So price it to sell in the next week to 30 days and move on with your life.