How to Avoid “Losing” on Price

June 19, 2006 |

I found an excellent article regarding what some sellers perceive as "losing" on price.  The point that the article makes, which is a very valid one in today’s market, is that "losing" is relative.  If your ultimate goal is to sell your home for the most amount possible, that is exactly what you must do. 

Just because the market will not support the price that you feel is appropriate is no reason to fault the buyer.  It is VERY important in this market to price the home to sell.  THE DAYS OF DOUBLE-DIGIT APPRECIATION IN OUR AREA ARE DEAD, for the foreseeable future anyway.  Previously, many homes were priced according to the other active homes on the market.  This was a viable strategy when prices were climbing every month.  Unfortunately, this is not sound real estate practice.  Now, more than ever, it is critical to look at your home in terms of similar homes that have SOLD in your area.  If you price your home according to other homes that have not sold, then your home will not sell either.  The only good comps today are the homes that have sold. 

Remember, just because  you aren’t making as much as you may have hoped for doesn’t mean you are losing.  In fact, the only way you lose is if the home languishes on the market and prohibits you from achieving your goals. 

Posted by Daniel | Filed Under Selling 

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