Some real estate sellers try to "snow" their brokers into higher listing prices than the public can bare. Marketing and pricing along with some fortunate timing of a market shortage of the type of real estate you want to sell are the primary variables controlling your sale. Business 101. But in the real estate battle field as you climb in and out of the economic trenches to make advances wiggling on your belly to get to the magic closing, often sellers offer their reasons for the delay in a sale. Reason #45. The property is not selling due to a price way too low to get buyers to take the property seriously. No....Mr Seller, the reason the property is not selling is due to the price...because it is higher (showing current CMA paperwork and pointing at trend graph) than the rest of the herd of properties currently on the market. Explaining how when it was listed, there were three other just like its on the market. And then an avalanche of other carbon copies flooded the market. Foreclosures started to dot the landscape, selling for half the price. It goes on deaf ears. Sometimes, flash back and reminiscing about what the seller could have gotten three years ago becomes the topic of conversation as a good REALTOR tries tactfully to get back to the cma and reality of the CURRENT market. But that's reason #46 why real estate does or does not sell. My favorite logic some sellers employ in pricing if they decide to ignore your reflection of market value is reason #47. I have three kids...and if the property sold for $80 thousand more than its worth, I could help each next semester at college. Brilliant logic and wishful thinking. Okay..great accomplishment if a buyer or his banker agrees to peel off extra bills to stuff in the sellers pocket at the closing. Real estate valuation depends on your perspective and your business back ground to accurately "see" the current local conditions affecting the price tag and marketing time.
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