Experienced real estate professionals advise caution when asked to list a home at a below-market price. Why does this happen?
Consider these circumstances:
- The seller accepts a below-market offer in order to sell the home to a relative and other family members question the deal.
- A high-value home is priced low for quick sale and the heirs question the deal.
- The seller says, “This is how much I want. I just want a quick sale.”
What should the real estate professional do? Write a letter to the client stating that the property is listed below market value. Prepare a CMA showing the current value and ask the seller and buyer to sign it in order to acknowledge the below-market price or offer. Keep all the documentation justifying the price. Market the property as a “best value in the community.” I personally focus on the best value for my customers and the community and my sales history is a positive statement of this!
It’s always important for me to provide inexpensive tips to support value and allow my sellers and buyers to weigh the pro’s & con’s on every transaction! Ask your Realtor if they are a certified SRES
Ref; National Association of Realtors “Senior Real Estate Specialist” certification!