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Quick Read from Rob:
OVER PRICING: THE SILENT DEAL KILLER.
Why the highest price often leads to the lowest sale.
A seller I met was thrilled when one agent suggested a number far above the rest. "Finally," he said, "someone who believes in my house." He went with that number. I watched what happened over the next three months from a distance.
The first two weeks are when a home gets its biggest, most motivated audience — the buyers who've been waiting, watching, ready to move.
His home greeted them with a price that made them frown and scroll past. No showings. Then a price cut. Then another. By the time it sold, it went for less than the honest number would have brought on day one.
Here's what most people misunderstand about pricing: a high price doesn't put you in a stronger position to start a negotiation. It quietly turns away the very people who would have competed for your home. Price is not a wish. It's a doorway — and if the doorway is too narrow, no one walks through it.
The strange truth is that slightly underpricing a home often sells it for more, because it draws a crowd, and crowds bid against each other. Overpricing does the opposite. It hands buyers a story: "Something must be wrong with this one, or it wouldn't still be sitting here."
I once listed two nearly identical homes months apart. The one priced right had three offers in a
weekend. The one priced on hope chased the market down for eleven weeks and sold for less.
Same house, different doorway.
If you're curious what your home would realistically attract — not the flattery number, the honest one
— reply "PRICE" and I'll put together a straight answer for you.
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Thanks for reading my newsletter. I hope it offers you valuable information! Please consider me when you are about to list, and if you're buying, I am happy to help you!
Rob Sartore, REMAX Palm Realty.
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