I’d have to say my #1 pet peeve thus far is my encounter with some expired sellers. Those who have had their home on the market overpriced and they either weren’t educated by their previous agent or they are unrealistic about what buyers are willing to pay for in today’s market. As a result, their home was rejected by the market and failed to sell.
If a seller is just testing the water, then having their home on the market $40,000 overpriced is their call. While there are agents out there who will take on the job of selling a home in this situation for the purpose of marketing (getting their sign in the yard), personally, I run the other way! Why?
~ It wastes my time – I could be helping another seller that really NEEDS and WANTS to get their home sold.
~ It hurts my credibility – The goal of having a sign in the yard, is for it to eventually be accompanied by another sign that says “SOLD!”. If that doesn’t happen, my effectiveness eventually comes into question. It also hurts my credibility amongst my peers.
~ It wastes the seller’s time –Contrary to popular belief, selling a home is no walk in the park for an owner. They always have to keep their home in showing ready condition (or at least they should). In addition, ideally, they leave the house whenever there is a showing (this eases the tension and pressure on a potential buyer). Imagine how much fun this is with children…NOT! Who wants to go through this for nothing? At the end of six months, with little activity and no to low-ball offers, sellers are often quite frustrated. Trust me… I talk to them every day. They end up saying they need to take a break, which is the worst thing to do at this point. In today’s market, home prices are dropping at about .5 to 1% a month. So what they could get today for their home, will be considerably less in 3 to 6 months.
Now, for sellers who really need to sell their home and despite the good advice of their previous agent (I talk to those frustrated agents too) and don’t want to be realistic, please understand that buyers do not care about what you owe on your mortgage or what you need to walk away with to buy your next house. They WILL NOT pay more for your home just to help you out. Buyers buy when they perceive value in a home. That is usually at market price or below. If a buyer does pay more than what their market is indicating, that home is usually one of a kind… very unique from the other homes in their market.
So now that you hopefully understand the pitfalls of being on the market overpriced and having unrealistic expectations, stay tuned for the next post where I’ll give you tips on how to determine the right price for your home.
If you need to sell your home or you've been trying to sell your home unsuccessfully, I can help. Call me for a free consultation (404) 857-2508.
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I specialize in the following cities: Loganville, Grayson, Snellville, Dacula, Lawrenceville, Duluth, Lilburn, and Lithonia. If you are outside of my coverage area, I can still help!
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Talk to you soon,
Natasha Liburd, Realtor / Home Stager
"I pride myself in being a guide to my clients. At the end of the day, I am genuinely fulfilled when I've helped them achieve their goals."
*DISCLAIMER - The postings on this site are my own and don't necessarily represent the positions, strategies or opinions of any company or affiliate referenced therein.