Ocean Breezes Blog

I was recently asked, "How can I get the most money for my house?"  Now, this is not a new question for REALTORS® and frankly, the answer is not a new one either. "Lower the Price." Not what the person asking the question wanted to hear, but the facts are the facts, folks -- and sometimes the truth hurts.

Here's the truth:

1. Overpriced listings, if they get offers at all, are more likely to get offers from lowballers.

2. Reasonably priced listings are more likely to get reasonable offers from reasonable buyers.

3.  The longer your house is on the market, the more money you're losing every month. Your property becomes stagnant and by the time you finally decide to lower your price, it's not being shown.

4.  Overpriced listings do not get as many showings. Fewer showings = fewer offers.

When a listing has been on the market for a longer than average time, and receives an offer far below asking price, it makes sense to lower the price to a reasonable price point. It's vital to attract more prospective buyers who may be precluded from seeing the home because it was listed higher than their price range.

But, let's just avoid all of that "how much should I lower it?", and go with the best advice a REALTOR® can give you -- List at the right price out of the gate!

It's a buyer's market and today's buyers are more savvy than ever. They have resources unimagined when I first started in Real Estate 26 years ago. You need to capture their attention immediately. And the best way to do that is to come out of the gate at the right price.