Over Pricing Your Home
There are many reasons why a home may not sell. Over pricing is one of the biggest problem why a home is not selling. The result - expired listing.
Not all of the homes a Realtor list will sell, not even the top producers. No honest Realtor will gaurantee or admit that he or she will be successful in selling your home. The only sure thing is that listings will generate expenses and a lot of running around.
Wrong and Right Pricing
Many Realtors will take listings and price the homes according to the wishes of the home owners in spite of being advised the listing prices are not realistically priced. They hope that such over-priced properties, given time and lack of interest from home buyers will help to make the home sellers to price their properties according to the market. But, most experienced and successful Realtors will say no to such potential sellers if they feel their times can be better utilized working with other home sellers.
In a hot "Buyer" market, getting a listing almost guaranteed a sale and a good paycheck for a real estate agent. The market determines the price level at which a home can be sold. Wrong pricing is counter-productive for both the seller and the agent.
The strategy of pricing a home right always beats pricing a home high and make many price reductions in an attempt to sell the home. Home sellers who prices high, and subsequetly make several baby-step price reductions is showing sign of weakness and desperation. This is contra pruductive, and works against the home seller in selling his or home.