Jeremy Jenks: Jeremy Jenks, Vice President of Sales here, and it’s time for some more Surprise! Expert Commentary!
So, each week my team gets together, they come up with a question that’s one of the most commonly asked question when you’re buying or selling a home. It is “put me on the spot” time. Actually, I think their favorite part is just chucking the box at my face. But, it’s when, if I’m sitting in your living room on your couch and I’m gonna answer a question for you, just like we were kind of being candid. So, let’s see what we’ve got this week.
“Should I price my home higher to leave room for negotiations?” This is a little bit of a tricky one. There’s kind of a big answer and a small answer, but when it comes to leaving your price, what you’ve got to understand is, the higher you price your home … and this … overpricing a home, even a little bit, makes a big difference. Right? Your showings drop off. So, would you rather price the home and leave in some for negotiations, which then the person never comes in the door and sees it, so you never get that offer? Well, that doesn’t work out very well, does it? So, what I typically recommend is that you price the home at fair market value, get people in the door, and if you’ve got more activity, and your home is desirable, and it’s priced at a good value, then your offer is gonna come in much closer to asking price.
So, let me answer this in another way. Typically, what I’ve seen over the hundreds and hundreds of sales that I’ve done is, if the home is overpriced, that’s where they’re gonna come in and offer you like 10% less. So, if they come in, they’re gonna come in low. They’re trying to get you to move down because from what they’ve seen in the market, you’re overpriced. So again, if the home is priced right, you’re getting showings, you’re getting people in the door, your offers are gonna be much, much, much more reasonable offers anyway. Our market here is typically about 98% of asking price. So, what we’re doing right now is we’re not seeing people come in with 10% discounts in mind and things like that.
Stay tuned next week for some more Surprise! Expert Commentary!
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