Today was haircut day. While in the chair the stylist discussed a house up for sale in her neighborhood. She said the price was way too high. She said the house was not special. No pool, small, no remodeling. Neighbors usually know and, in my experience, are quick to tell prospective buyers when they pull up!
I am familiar with the neighborhood. It is, in my opinion, most likely listed for at least 25% above the market.
I am not sure of this seller's motivation. If the list price is based on what they paid for their house that is a flawed strategy. Buyers do not care what a seller paid!
If a seller really wants to sell the price will reflect reasonable market influences. The price may be slightly higher than the competition due to condition factors (or upgrades) but the price will still be attractive enough to attract interested or curious prospects.
What does a listing price completely out of line with an area say about a sellers' motivation?
In the current Brevard County, Florida residential market there are plenty of competing buyers when a house is priced realistically and is move in ready.
But there is a difference between hopefully optimistic and unreasonably overpriced. If a seller's house is indeed priced correctly above similar nearby properties it is critical their real estate agent conveys the difference to prospective buyer agents.
But if a seller wants to list at an unrealistic price there will always be an agent to do just that because a listing with a sign out front and Internet marketing power will bring leads to that agent - even if they don't bring a buyer for the house
My philosophy is simple - list to sell! I would not list at any price if I knew I could not sell it at or near that price.
Is it wise to list your home for a price that is higher than the market?
Your selling price is only your selling price - not the buyers!
Unless a Seller understands this they are doomed to fail!
What your listing price should reflect.
Ready to sell your Viera, Florida home? Call me at 321-693-3850 or send me an email.