Quoting Paul Pastro from a recent article in "Broker Agent News.com", "No matter how fast the dog runs, it will never catch the car. The dog will never slow the car down. And, the dog will never bite a moving tire. What must the dog be thinking?"
What a great analogy when we compare his statement to what we are seeing take place in the market today. The current state of the real estate market has been a crash course for all of us; brokers, agents, sellers, buyers and the banks! Even investors who thought they had paved their road to gold are scratching their heads wondering what the heck happened. But let's face it, we know what happened and it's time to get past how did we get here and face the music. It is time to deal with what is on our plate as an industry....and, a consumer. That is.......if we want to sell houses; and, as a homeowner you want your home to sell!
Why is it there are sellers who can face the music and then there are others who can't even hear it?! Agents absolutely understand there is an emotional attachment to our homes and when it comes time to sell, we all like to think we have the cream of the crop...the best of the best...the creme dela creme! And...may be that is true. But the reality is that buyers are not going to pay yesterday's prices in today's market.
If you really, really want to sell...and, in a relatively short time period, no matter how great a house you have, you need to price your home properly (according to Paul Pastore, 10% below market); and, your home must be pristine! Taking the posture to price high, we can always come down later is not going to work today. If you currently have your home on the market and you are getting no showings you are probably priced too high. If you are getting showings and no offers, you are probably priced too high. And, keep in mind, the exposure your home SHOULD BE getting on the internet is providing the consumer with so much information, you must sell your home's value there before they will walk through your door.
Don't be faced with lost opportunities to sell by listing high and then be faced with a price reduction. Best opportunity to sell your home is when it is a fresh listing. If you are serious about selling your home in today's market don't be "the dog chasing the car." Price your home to sell from the beginning. Have your home pristine and even in today's market you should have success! And then everyone has something to smile about!!!
