A terffic reminder why NOT to over price your HOME/LISTING...be it $50,000 or $5,000,000.
We had a contact from our Expired Listing package that we send out to the expired listings in our market. After we emailed back and forth, Nestor chose to do a little homework prior to investing a lot of time on the listing presentation and CMA.
Nestor looked at the snap shot of this person's property. He then had to delve more into it because the numbers were just not jiving. But after all was said and done, this property was clearly 1 Million dollars overpriced! The seller was asking $2.6 million dollars.
The funny thing with sellers who are on another planet when listing their properties- is they all want us to list their properties for those outlandish prices with this justification: " You are International Properties and Investments aren't you? You do have international clients, right? Well just sell our house to one of them."
Excuse me??? So you think that Europeans or South Americans are living under some rock somewhere and will not bother to find out current market values? Do you think they are just naive buyers coming here without being armed with any truth? Sorry to break it to you- but they are savvy real estate buyers and investors! They are not stupid and will not overpay for your house!
Nestor and I decided that this listing was not even worth putting anymore time in. We kindly and respectfully declined the listing.
You need to sell what you list! So if it is NOT going to sell, why list it?
Copyright © 2010 By Katerina Gasset, All Rights Reserved.*Your Listing Is $1,000,000 Overpriced!*
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IF you're thinking about selling your Lake Arrowhead/Mountain home, keep in mind, you want a company/Realtor who can get your home ALL the exposure possible. I will get your Lake Arrowhead, mountain property the THE BEST POSSIBLE EXPOSURE. Ask me how.
This is a great post to reblog... No matter what the price point... pricing of the home does matter.
Hi Kat,
NO house will sell if it is overpriced that much! The homeowners need to wake up and realize it's a buyers market! YOU did the right thing by declining the listing... your reputation is worth more than taking on a listing that will just make you look like you've lost your marbles! ;o)
Amen, Kat, I could not have said it better! The market statistics don't lie!
Michelle: Exactly. You know yourself, being a part-timer, some places are just NUTTY overpriced!
Caren: True. True. True.