I wish I had a nickel for every time I’ve heard a seller say “You can always come down, but you can’t go up!”
The simple truth is that overpriced homes don’t sell unless you’re in a red hot seller’s market.
The Boise real estate market, while currently healthy, is not a red hot seller’s market in most price ranges.
A seller’s worst enemy is a long days on market time in MLS.
I know, because I currently have a listing that I took earlier this year after it was severely overpriced while listed with another agent for six months last year.
The home shows well, is located in a very desirable Eagle neighborhood, but remains unsold because buyers and buyer agents think there’s something wrong with it when they see the DOM (days on market) counter at 283 days.
The sweet spot for achieving a sale is within the first 30 days of listing.
New listings, especially those that are priced correctly and in good showing condition, create excitement.
That excitement goes away quickly if the property remains unsold.
Failing to sell within the first 30 days usually results in one or more price reductions.
Buyers and their agents view price reductions as a sign of weakness, which results in lower offers.
Listings are like fruit ~ they don’t get better with time.
It pays to price your home to sell quickly!
April 18th, 2014 Posted in Seller Stuff | Print This Post
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