Since August 23rd 2019, and this is the 26th of August! There have been price reductions/changes on 23 properties in the Ponte Vedra area.
Once we get the listing, it takes a great deal of time, and money to market the property. We spend a great deal of time in due diligence prior to meeting with our sellers to provide an accurate and impartial value only to be faced with false promises we may have heard from the sellers previous realtor interviews. Do we accept the sellers demands in order to get the listing? It’s extremely important to share the consequences of pricing higher what substantiates the true value.
Who are we fooling, it’s not fair to our seller nor to us to list the home higher than what it’s worth, (UNLESS) we’re in a market where multiple offers are the norm. . Why deceive our sellers, by listing it for what the seller wants to sell it for. Disappointing all parties.
A seller must accept that the real value of their home is determined by what a buyer is willing to pay for it in today’s real estate market. What the seller wants to receive at the closing table doesn’t affect the home’s market value! The market does not care what they need! If a seller cannot grasp this reality, then the listing we worked so hard to get will not be a marketable one, and our efforts to sell it will be fruitless.
The longer a property remains on the market, the lower the price must be for it to sell. Statistics have proven if the property is not correctly priced from the start, it nearly always and ultimately sells for less. No winners!
So many times, numerous sellers are interviewing several listing agents, and will they spoke to another agent who said the listing price should be “XYZ” What a realtor may say about what the price should be doesn’t affect it’s value.
Why do so many buyers and sellers have limited trust in us as realtors? Agents will tell them what they want to hear and not the honest truth. As difficult as it may be, honesty is always the best policy.
As I shared with you in the beginning. Twenty three (23) properties in our area have reduced the price of the home they listed in the past two days. So digest what this short article has to say and call me. I don’t sell homes in volume, I represent my buyers and sellers with ethics and integrity and with value that comes with experience.