Well I admit that I received a number of agitated calls and emails about my recent post on pricing below market value. I really do understand any seller or would-be seller’s difficulty with this concept but this is the nature of the current declining real estate market. Walter Sanford, notable real estate speaker and coach, www.waltersanford.com, reminds us that “leaving bargaining room isn’t as valuable a negotiating tool as bringing a greater number of more highly qualified buyers through setting a competitive price.” We all know that a prospective home seller will interview several Realtors and that a seller may be tempted to choose the salesperson who quotes them the higher asking price but this begs the question, “Does the salesperson want your success or a listing?” A salesperson who gives an unrealistically high price is simply making an empty promise. Another option is for a seller to get an independent appraisal from a licensed appraiser rather than from a Realtor to gauge a likely asking price for their home. It is in everyone’s best interest to price the home realistically–the agent is trying to work to get the job done for the highest and best price and the homeowner is trying to get their price and move on. It does not benefit anyone for the home to languish for 6-12 months!
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