Okay, so it's time to sell your home. There are many reasons why this may be so...
Maybe your job is transferring you, or you want to move closer to your grandchildren. Or, maybe you have to move for financial reasons.
Whatever the reason, your home is going to sell for whatever the market dictates. In times like these, you need to be informed about what the homes similar to yours are selling for in your neighborhood. That is ultimately what you can reasonably expect your home to sell for.
Unfortunately, it doesn't matter what your home would've sold for a few years ago, or what it appraised for when you were refinancing last year. It doesn't even matter what you need to get for it in order to move to another home. The market is unbiased and uncaring.
Please remember that your realtor honestly wants your home to sell for the most it can. The CMA (Comparable Market Analysis) is really just presenting the facts. So, please be realistic when determining the list price!
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Debi, my least favorite thing for a seller to say is, "I need so many dollars." A buyer does not care what he needs. I usually tell them that I've never heard a buyer ask how much a seller needs.
Barbara - That is so true...not necessarily what a seller wants to hear, but so true... :)
Setting reasonable expectations is the key. I don't hesitate to take a listing that is above my estimated value. But, I do negotiate periodic adjustments into the listing agreement. I hate stale listings and won't spend my good money on their bad listing.
Ryan - That's a great way to do it. Thanks for stopping by! :)
I tell sellers that if they can't "afford" to price their home below comparable sales then they are not a seller -- they are somebody with a sign in their yard. I work with sellers. Not people who want a sign in their yard.
I also tell them not to put it on the market if they can't conform to the market. Only those who conform to the market have a chance in-you-know-where to sell.
Elizabeth - That makes sense. It may not be easy to swallow, but it's the real world. :)
Good advice Debi - sometimes it's tough but opening sellers eyes is a good start to how to get their home sold. kM
Thanks, Kristin! - It's not really what they want to hear, but it's the truth. :)
You said it, Debi! I have been on a couple of listing appointments where the seller says "We want to sell it at $xxx,xxx and not a penny less." Those are the listings I walk away from. It is an important message to get out and I am reblogging it.
Brigita
Thanks, Brigita! It's pretty exciting to be reblogged... It's nice to know that others agree... :)