If you’re a homeowner and thinking about selling, you need to hear this. When I talk with clients about how to obtain the highest and best price for their homes, they rarely choose the process that works fastest and produces the result they desire.
The standard process of pricing the home on the high-side, then testing the market, is almost always the preferred sales process. With the mind-set of , “we can always lower the price”, we show the house occasionally, wait a certain amount of time, reduce the price, and repeat until we get an offer to work with – or not. Sometimes, sellers are unrealistic about pricing, and offers never come.
Potential sellers need to consider this: if you price the house lower, and generate showings and inquiries, offers will come. The offers can then be reviewed, rejected, accepted or negotiated. Did you know that home sellers don’t need to accept any offer? Even if the offer equals the amount you are advertised for?
In my opinion, the lesser used process is rejected because many home sellers need time to set their minds to selling. They want to sell, but, they also need time to make plans for a move. Basically, they need to get their minds around the fact that this is really happening. What kind of home seller would you be?