Home not selling because of pricing?

Home not selling because your so far away on pricing?

If we have heard it once, we have heard a bazillion times: "I want to leave in some negotiation room in my price."

We have statistical evidence (at least in the local MLS) that those who "leave in some negotiation room," never have to worry about negotiating their price because they never have to face the grueling exercise of lowering their price -- because they never sell.

In the real estate world, we have a classification for those type listings: life listings, expireds and withdrawns. Pretty much it means 95% fo the time they don't sell because they never hit where the buyers are biting and true current home values are.

Many of the withdrawns went from company A to company B, but it still points out that sellers are overpriced and expecting too much for their houses even in the midst of a buyers market. Once they switch companies it is almost always accompanied with a price improvement.


The sellers who move on down the line with pricing become "former" owners and move on with their lives.

So when a seller tells us they want to leave enough room in the asking price for negotiation room, we tell them to take another gander at the statistics. The rationale goes something like this: if home sales are consummating at 3 percent below asking price, then we need to be up 3 percent to get the price we really want. The fact is if you price it so that several buyers want it, then you don't' have to give up your price. Take your emotions out of it and look at the true numbers that homes in your area are selling at and price it at or below the current selling price.

Don't be the most over priced house in the area be the best value priced home in the area and sell your home fast in this buyers market.

If you price right, actually you don't have to come down at all. Many of the houses in our market area are selling for the asking price. These are the houses belonging to sellers who dared to meet the buyers in the market instead of hoping the buyers would come up out of the market to make an offer.

A good market is always where the sellers focus on price and condition not their personal bottom line they think their home is worth.

Go with agents that tell you the truth like Mike McCoy & Ken Simpson at 760-333-1834 not what you want to hear. Many agents will tell you exactly what you want to hear about pricing and anything else just to have their sign in your yard.