Buyers Aren't The Only Ones Low Balling Offers!
You know there's no shame in real estate negotiations today. With the media throwing out tidbits like "ALWAYS offer 15% below list" for your first offer without taking into account how fairly the home is priced, and more of a ME ME ME society, it's just a recipe for insulting the sellers. But that's okay! We know this going in, we have that conversation with our FIRST meeting with our Warren County home sellers, expect it, don't take it personal, it's just part of the current selling environment! Counteroffer and let's see if they REALLY want to play ball.
But that low ball offer may start long before that yard sign ever goes up announcing FOR SALE! Now sellers are pretty aware that some agents will tell them whatever they want to hear, including unrealistically HIGH values. We don't personally sell false hope, we're comfortable backing up our list prices with comparables to support, or if none are available, at least being able to explain the rationale for why we suggest that certain dollar amount for the starting point.
But sellers need to also beware of the other end of the extreme, the agent who severely UNDERVALUES their home! You may get a quick sale...in fact would almost guarantee it! But unless you're in a BIG hurry, do you want to leave thousands, maybe even tens of thousands of dollars on the table? Fortunately for most consumers, there's enough public information on homes for sale and sold prices that they can get a bit of a feel for ABOUT where their home should be valued! But if you as the seller don't do your homework, and ONLY interview one agent, you just might leave yourself vulnerable to being underpriced.
Last night we presented for a new listing and suggested a list price of $189,900 for this four bedroom home. Makes them competitively priced, a real value for what they're offering. Another agent had recommended closer to a $160,000 starting price. Which would be fine if you were trying to sell a THREE bedroom home, WITHOUT a pool, WITHOUT a hot tub, WITHOUT new flooring, WITHOUT new paint....you get the drift!
So when you're ready to sell your Warren County home, make sure your agent team can back up their pricing strategy with the facts that make sense to you!
Don't overprice, but don't GIVE your home away either!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
P.S. We got the listing!
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS
William (Bill) Spear, CRS
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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