Dangers Of Overpricing Your Home

by gerryoliver on August 21, 2012

in Latest News

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”

 

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Whidbey Island Home Search Whidbey Island Home Values

Post by Gerry Oliver

Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional team that stands above the rest. Serving as one of the preeminent real estate offices located on Whidbey Island, GO Realty is dedicated to superior executive customer service, while staying on top of the ever-changing landscape of the real estate business. GO Realty goes the extra mile to help you achieve your goals whether selling your home or buying your very first home. My goal for GO Realty is to be the “Local Leader” for innovative sales marketing techniques. To put it in plain words “GO Realty Gets The Job Done!” My Bio A native of Oak Harbor Wa, I understand what it means to be a part of our community. My continual pursuit of education and training, together are assets that benefit the GO Realty customers. My client list includes not only local sellers and buyers, but also some of the most prestigious and influential individuals of Oak Harbor. I am well versed in the luxury market, new home construction, while understanding what it takes to be a leader in the community when it comes to handling military transitions for families. My unparalleled enthusiasm and boundless energy allows me to set the highest goals for myself and the GO Realty team. I pride myself on being a very skilled negotiator with one thing in mind. Results For My Clients. I currently serve on the Oak Harbor City Planning Commission, I also donate my time to the Oak Harbor High School as one half of the Wildcat TV announcing team of Shane & Gerry. My career in real estate has encompassed a broad scope of transactions – single-family residences, condominium projects, land deals, & income and commercial properties. My Mission: Is to make sure every GO Realty client has an Executive experience in our Family Run Business. To obtain that goal, I will make sure every team member has the consistent training that is needed to give the service that we provide while being the technology leader here on Whidbey Island. If you feel that you are a hard worker and love people. Contact us to find out about the GO Realty experience. “With Gerry Oliver and his GO Realty Team you can expect Executive Service For All”

Gerry has written 338 articles.



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