The Top Reason Your House is Not Selling (The number 1 reason)
1. The number ONE reason your home is not selling is, your home is OVERPRICED. Optimistic buyers often say “there’s a buyer for every home.” What they often leave off is the qualifier “at the buyers’ price.” The fact is that buyers, not sellers, ultimately determine the market value of a home. Overpricing is the most common reason homes do not sell. Price! When you set a high price it sets an intention in motion. Most real estate agents and most qualified buyers will see your listing within the first 30 days. If it is overpriced by as little as 5% it will be duly noted and interest in your property will wane. Buyers will notice when it has been on the market for a substantial period of time it will become shop worn and potential buyers will start asking the all too common question about overpriced listings “I wonder what’s wrong with it?” Buyer code for let’s low ball them. If you do not drop your price, and soon, you will be doing what is called “chasing the market.” What you want to be doing is “leading the market.” The other problem is once an offer is made your property may not appraise for the agreed upon asking price, thus throwing another wrench in the works. Often it is overcome by the seller coming down to the appraisal price or the buyer walking away from the deal. Competition to sell a home is high. Price it right to begin with and it will sell.
If you have questions about this article or anything Boulder give me a call anytime. Michael Hughes-Fuller Sothebys International Realty 303-359-6627 or you can visit my website at www.BolderRealEstate.com
