Warren County Ohio Real Estate News and Observations: Are You Leaving Money On The Table When You Sell Your Home?

Are You Leaving Money On The Table When You Sell Your Home?

money money money

Sometimes as a real estate agent I see a price on a newly listed home and think "WOW, that home is REALLY underpriced!".  Like tens of thousands of dollars underpriced.

Now sometimes the underpricing may be entirely on purpose.  The seller has a need to have a QUICK sale and their priority is strictly getting rid of their home and not about getting maximum dollars.

But what if the seller doesn't realize their home could have been worth more, even significantly more?

For a buyer's agent there's no dilemma.  The agent's fiduciary responsibility is solely to the buyer.  Get the lowest possible price and best terms.  There's no obligation to tell the seller anything at all about how low they're priced.  That burden is solely on the listing agent to get the price right.

Now within the trade agents get reputations.  That agent tends to price high.  That agent tends to price low.  That agent tends to nail the market conditions and price VERY closely to what the final price will be.

So when I see a WOW that's a low price on that home paired with an agent who's claim to fame is WE SELL HOMES FAST!!!, I wonder if the seller really intended to leave thousands of dollars on the table, or if they just wanted a really quick sale?

In today's tech savvy world where so much information is available, it pays (literally) to have a general idea of what your home is worth before you hire your listing agent.  If your listing agent has a price that's either way high or way low compared to what you expect, the agent should be able to pack up that price opinion with facts.  What are the comparable sales?  What is the market trend?  Climbing, falling or stable?

When you understand those numbers, you can determine the strategy that works the best to meet your sale needs:  fast, most money, or a balance of the two?

 

Questions? Just give Bill a call at 513-520-5305 or email Liz@LizSpear.com and we can discuss how we can help you! 

Serving Greater Cincinnati home buyers and sellers,

Liz and Bill aka BLiz 

 

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

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Comment balloon 6 commentsLiz and Bill Spear • May 12 2018 11:33PM

Comments

Good evening Liz and Bill Spear ,

A great topic and we all know agents who have a reputation for Pricing High..Pricing Low..Pricing at Market price!! I like a balance..at Market price!

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 3 months ago

Hi Liz and Bill Spear .  This week when I saw the price one of our agents priced a new listing, I knew it was underpriced.  I spoke with her about it and we discussed raising the price.  However, in the meantime, two offers came in - both over asking and the seller accepted one $85,000 over list - which in my opinion is over what I would have suggested we raise the price to.  A win for our seller!

Posted by Lynnea Miller, Premier Real Estate Service in Central Oregon (Bend Premier Real Estate) 3 months ago

Good day 

Thank you for sharing your information with us

Have a great day.

Posted by Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker (Harry Norman, REALTORS® ) 3 months ago

Not everyone can determine a good deat form a great deal by just hearing the deal. It takes more practice than that.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 3 months ago

I've seen a lot of homes in my farm area that have been undersold.  It sucks when agents price too low unintentionally.  Maybe they just aren't familiar with an area, or the demand in it.  When it happens intentionally, that's unacceptable.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) 3 months ago

Featured in the group:  BARTENDER, MAKE IT  A DOUBLE.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) 3 months ago

Participate