Have you had your home on the market for awhile with little activity? Are the showings happening less and less frequently? You may be a home seller that is out of touch with the market.
1) You think your house is the best – Despite the feedback you receive from showings, despite what your Realtor has been telling you, despite the fact that your home has not sold in a long time you still seem to think your house is the best
2) Your house is a bargain and you won’t lower the price – Even though everyone who views your home and your Realtor tells you that your price is too high you just know they are wrong. Your house is worth it. The real estate expert who is in the trenches day in and day out does not know squat.
3) You don’t care about your competitors – You ignore the other homes on the market. You aren’t interested in seeing them or even looking at photos of them. Your home is the best. You will not adjust your marketing or price based on your direct competition.
4) More advertising is the key – It does not matter that your home is overpriced a little bit. More advertising will overcome that. Buyers view many homes when purchasing. The more you advertise the more you might be helping your competitors. Your home in the Sunday newspaper might drum up some buyers but they will also look at the other homes for sale in your neighborhood. If they are are better then you are in trouble.
5) We improved our home – You may have updated your home but you won’t always get dollar for dollar. Depending on the improvement most buyers won’t give you 100%.
6) You know more than your Realtor – Let’s assume you have an experienced and professional Realtor representing you. Despite what they tell you about your home being overpriced you don’t listen. You think you know more than this person who has worked in the real estate trenches day in and day out for many years.
7) The market is stupid – It does not matter what the market is telling you about your home. Even though your home has not sold the market is wrong.
If any of these sound like you then you may need an intervention. The real estate market dictates what your home is worth. You just get to decide if it is enough for you.
Art Vandalay – Sarasota real estate
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