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For Sellers: Don’t be Delusional!

Uncategorized // Oct 19, 2010

Almost every seller I have ever met believes that their home is valued above what the market will bear. Don’t be one of “those” sellers. This will only hurt your chances of finding the right buyer who will pay top dollar for your home. When you overprice a property, it can have an adverse effect on the marketing effort by alienating buyers, and discouraging brokers from showing it.

You probably feel your home is worth more because you have lived in it and are aware of all its attributes. Remember this – a future buyer won’t get to know these things as intimately as you until they live there. You need to take an objective view.

If your concern is underselling – make sure you have an agent on your team who is doing all the right things to market your home, and the market will dictate your home’s value.

My advice to you, BEFORE you list your property, is to get educated:

1.) Have your broker give you a comparative analysis of homes recently sold, in contract and currently on the market.

2.) Take 2 hours to go and see what the competition is.

3.) Ask your broker to bring in a few more agents to get their opinion on the value of your home.