Does One Price for Negotiating?
The answer, in a nutshell, is NO! We’ve written other blogs pertaining to home pricing and what we wrote then still hold true today. We’ve also written a blog advising how buyers can get their homes at the right price.
Many sellers say that they want to price their home at a higher price because “I want to leave in some negotiation room in my price.” We have the statistical evidence that these homes end up either expiring or the sellers withdraw them from the market. We track the housing market in the areas that we do market homes. As an example, in Winslow Township we have statistics that show the market activity for June 2007 and August 2007 (we missed out on July 2007…sorry).
Statistically, it is important to price the home right…if you want it sold. Why is this important? Because you want to price the home where buyers are looking. If you price right, actually you don’t have to come down at all. Many of the houses in our market area are selling for close (approx 98%) to the asking price. In addition, some are selling without the seller providing any closing costs as well (32 out of 55 that settled in Winslow Township in August, settled without any seller consessions). These 32 houses belong to sellers who dared to meet the buyers in the market instead of hoping the buyers would come up out of the market to make an offer.
So, forget nudge room, fudge factor, and room for negotiation; put the house on the market at a right price and then hold the line. If a buyer wants closing costs then you can negotiate upward.
With all of this said and done, this is exactly what we do for our clients…price their homes to sell. We don’t collect listings for the sake of having listings. The homes we market…SELL. We offer a free home evaluation. If you’re thinking about selling your home, give us a call and we’ll be more then happy to stop by and give you your free home evaluation.
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