Whichever the case, if you start out with too high a price on your home, you may have just added to your stress level, and selling a home is stressful enough. There will be a lot of “behind the scenes” action taking place that you don’t know about. A lot of that starts with agents using their local agent contacts informing them of this great new property that is on the market. But if priced to high Realtors won’t even pay it any mind, as their time with showing buyers is very time-consuming and they want to spend their time wisely.
Understanding The Real Estate Market Conditions On Whidbey Island
If you and your agent have overpriced, fewer agents will preview your home. After all, they are Realtors, and it is their job to know local market conditions and home values. If your house is dramatically above market, why waste time? Their time is better spent previewing homes that are priced realistically. From a buyers agent prospective they want to make sure that the buyers experience is a smooth one and want to keep their buyers stress level down.
When Lowering Price Your Whidbey Island Property
Later, when you drop your price, your house is “old news.” You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take longer to sell.
Even if you do successfully sell at an above market price, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise. You deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen. Your house could go “back on the market.” Now thats a place nobody wants to be.
So What Should You Do When Listing Your Home For Sale In The Oak Harbor Area
First thing you should do is call Go Realty and let one of their brokers walk you through the process. Whats the cma is complete listen to what is said. Most agents in this soft market do not buy listings. Meaning telling you what you want to hear and over price the home with the hopes of getting a price drop. Understand that good brokers spend monies out of their own pocket to market the property so they want to home to sell to accomplish your goal and their goals as well. Even if the pill is hard to swallow listen to what your broker has to say. “GoWithGo”