Ever been in a listing presentation and heard the seller say this as he/she is going over the market comps?
I have and it shocked me the first time because I hadn’t done my homework so I wasn’t sure…Rookie mistake!
Once I learned why the seller was making this remark I was able to handle it like a pro. It might go something like this.
Seller: “I know this home. Their kid is on my soccer team and this home sold for much more than this, Mike.” This must be wrong!”
Pro: “You’re referring to the Cooper home? Well, we find this happens quite often. Many times when a neighbor puts their home on the market and then it has a sale pending sticker, another neighbor will ask them what they sold it for and they, of course, say, “We got what we wanted.”
Knowing what they were asking the neighbor assumes they received much more. This is a common problem, but I can assure you that these figures are the facts of record.”
Seller: “All I know is that they did say that they got what they were asking.”
Pro: “Well they did essentially. You’ll notice the difference in asking price and selling price right here. You see that they did have to adjust to the marketplace. In doing so they, in essence, got what they wanted.”
These words took practice to make them a natural part of my communication style. One other important point…
You Must know the market Better than the Sellers!
Once I was able help the sellers understand what happened they were then more open to my research and pricing their home within the market range indicated by the facts of record.
Price really is King when it comes to selling real estate. Price it too high and you’ll find yourself languishing on the market or worse, trying to chase the price down to the market!
Price your home right and BOOM…it sells at or near…sometimes above…the asking price and it sells faster to more qualified buyers.
Just how it works.
We’ve all heard Location-Location-Location is everything but it’s just something not everything. Price is everything because no matter the location nor condition, if it’s priced right it will SELL!