Original article Source: Top Home Selling Tips
After being in the Real Estate business for the last twenty five years I have been involved in all types of markets. I have been through boom times and recently some of the most difficult times you could ever imagine.
With these experiences I have continued to learn what makes a home sell for the most money, in the shortest period of time, with the least amount of headaches. When I interview with a potential client I like to share what works and what doesn’t.
I am also candid even if it is not what the seller wants to hear. A “yes” man will never be a great Realtor. Keeping this in mind here are the top home selling tips for Real Estate. The best piece of home selling advice I can ever give any client is to price the home properly coming out of the gate. Overpricing a home is one of the hardest things to overcome.
In fact I tell people all the time that the price you set on a home is 80% of the marketing. What do you mean by that Bill? If you set the wrong price all of your other efforts to sell the home will be meaningless. The best online marketing, fantastic photography, beautiful brochures and fancy video tours aren’t going to mean squat if you help sell the competition by overpricing YOUR home.
One of the sure fire ways to prevent your home from selling is to list it at a price that the market will not bear. Most people don’t like to overpay for any kind of purchase, never mind one as large as a home. Selling a property can become an emotionally charged event. Many people think of their homes as an extension of who they are and their life time memories. Our homes are places where some of the most important events and memories in our lives occur. From holiday gatherings, birthday parties, the baby’s first steps, to simple things like family meals. These are all special things to many of us.
When selling a home however, you need to take the emotion out of it and think of it strictly as a business transaction. Trust me I know this can be hard to do! Keep in mind that market value is determined by what a motivated and qualified buyer is willing to pay for your home, not simply what you feel it should be worth. Carefully looking at comparable sales data is very important. The last thing you want as a seller is to let “the days on market” become inflated. I can tell you with certainty every buyer will ask their Realtor how long has the home been on the market. Buyer’s do this because they want to know how much they can negotiate.
To continue reading top home selling tips come take a look at my new blog over at Maximum Real Estate Exposure. If you like the article I would appreciate you sharing it in your social media networks!
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About the Author: The above Real Estate information on top home selling advice for maximum profit was provided by Bill
Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.
Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!
For Massachusetts Real Estate information see Metrowest MA Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.
I service Real Estate short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Framingham, Franklin, Upton, Bellingham, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Millbury, Worcester, Natick, Sutton and Douglas MA.
Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 25 years.
Thanks for the post. I will read the rest of the article by clicking the link to your new blog.
Emotion....get rid of it when shopping for a home (or selling one). I like to tell folks you are buying a house, not a puppy!
The advice to not over-price a home has never been more important. It's a hard thing for some sellers to overcome, but it can't be stated more emphatically that all the great marketing initiatives you can create around a home are unlikely to generate an offer if the home isn't priced correctly.
"In fact I tell people all the time that the price you set on a home is 80% of the marketing."
Great advice.
Bill
I like the way you are handling the originally posted at intro infi at top plus link at bottom. You just solved how I am going to handle my new Word Press blog integration with Active Rain.
Setting the price of the home is 80% marketing - maybe even more! Unfortunately there are still so many unrealistic sellers out there and buyers! Excellent post!
I can tell you with certainty every buyer will ask their Realtor how long has the home been on the market.
Absolutely! I spend a lot of time with buyers and this is numero uno question 9 times out of 10.
This is absolutely true - setting the correct price is paramount in getting the home to sell!
Bill: It cannot be overstated...overpricing your home is the quickest way to have it sit on the market. Congrats on the well deserved feature.
Congrats on your new wordpress blog. Pretty cool. I clicked around a little. Hope you get lots of traffic!
Bill, I just sent a new flyer to my partners that I had received from an agent who took a listing that I had recently turned down. The home is priced $150K ABOVE my assessed market value!! I'm just waiting in line to be the next Realtor®...it will NEVER sell at the price that it's listed and this agent's efforts and expenses are all for nothing. Not exactly how I'd like to spend my marketing dollars either!
Happy New Year!
Bill There is no doubt your many years of experience qualified you to write with the forthrightness that I respect. Your new WP blog is a winner - I do "like" it
Bill Your many years of experience qualified you to write this post with a forthrightness I respect and I do "like" your new WP blog
I recently did a CMA for a client who was interested in a home. Records show it is an expired listing that was priced $100k over market and being handled by a professional Real Estate team. I instantly knew that the seller used his my way or the high way tactic and some poor Realtor went along....Instead of Selling..its telling
Thanks everyone for all your comments. If you think there are some that I missed let me know:)
Bill - Pricing is so key. No amount of marketing can sell an over-priced home. That's for sure.
Thanks for the post - I just reblogged it!
Bill:
Love the post, and yes pricing is key, just take the" Razor" home in La Jolla, California which recently sold-- origingally it was on the market for 45 million, it sold for 14 million as a short sale, did the banks have to eat a good amount of right off? I feel for the agents that try to sell it when it was so over priced. Another key to selling a home or buying is motivation.
Pricing is key!!! but it is sometimes the hardest thing for sellers to comprehend and realize. Getting over the mental block of " I spent$$$$ so now my home is worth $$$$
It's hard being the bearer of bad news when a seller thinks their home is worth more than it is. The truth hurts
Good article, I like the way you call your self a candid realtor - so many are yes men and they do no one any favors - keep it up!
Bill - The truth is a powerful weapon. It sets buyers and sellers free and allows agents to fully do their jobs. Nice post and a nice WP link to the full article. Our best to you in the upcoming new year
Bill - good to see you back on the board here. Will continue on over to your new blog site. The price will always be the connection to the right buyer for the home. If it's not on mark with the current market the seller inevitably chases down the market. We've all seen it especially it seems lately....
I love the line about pricing being 80% of marketing - so true!!
Hi Bill - I checked out your WP blog and commented there. Nicely done!
Hi Bill I read the entire post, great advice, love the picture of selecting the wrong realtor to list your house,lol
DOn't know why so many sellers want to chase the market down. I agree with your post and live by that mantra.
Bill so true, price is key and sellers need to hear this even if it hurts :)
Wishing you continued success this year.
Bill, I work with alot of buyers too and I agree with you. Over priced homes help sell other properties in the area that are priced right.
Bill ... This market is all about price. that drives everything in Northern Nevada! I think the influence of the Bank Owned homes forces the corporate sellers to drop lower ad lower. Nothing short of absorbing that inventory is going to make a measurable difference in my opinion!
Bill this post is so accurate and it really describes the reality we all are experiencing.
"The best piece of home selling advice I can ever give any client is to price the home properly coming out of the gate. Overpricing a home is one of the hardest things to overcome." A question that comes to mind is that the seller is afraid that the buyer will bring in a low bid... so how much over what you think is the proper price for the sale of the home should the home be listed for when first listed?
Bill excellent blog with great advice. This was a well deserved feature, I would have suggested it if it was not featured already.
Bill - Price is so important, and it can be so hard for sellers not to look at their homes emotionally and believe that it takes just the right person.
Excellent post, Bill! I'm having this exact same discussion with a seller right now.
I feel like if I take a listing and don't have it listed correctly right out of the gate, I'm doing a disservice to the seller.
Great post. I read the entire blog post and your experience definitely shines through.
Bill, it would be wonderful, if we could wave a magic wand over our sellers and their emotion would disappear and be replaced by the notion that selling is a business transaction.
Thanks again everyone for all your compliments on top home selling tips.
Bill
Be sure to cover the biggest danger to taking an overpriced listing, and that is sellers tend to 'get married" to the price and getting them to "divorce" that price will not be easy no matter what you told them upfront, or what they verbally said they would do after enough time on the market. I almost think we should have "divorce" agreements instead of listing agreements.
One question I asked only a few sellers who I suspected might have this problem when I took the listing was will you mind, or be offended by, me calling you an idiot if I need to because some times an occassional seller will become "married to their asking price" and will always mentally outbid what potential buyers are offering no matter how good the offer, thus becoming the high bidder, and when that happens all your supposed future plans have just been canceled. If your always the high bidder you just bought your own property for that price, and the other party, the buyer, is always going to be the loser at the auction. (This advice applies to the suspected greedy seller too.)
Oh, Mr. Seller I know you are thinking I would never do that if the offer is fair one, but we all think that, but experience has taught me otherwise, when the chips on are the table some of the brightest people I know have had emotional issues and attachments show up, and I want their persmission to call them an idiot for wasting their time and mine, before I cancel the listing because they really don't want to sell, they just didn't know it, and if they did know it, they just kept it a secret up to that point thinking they would sell, but then they couldn't when the chips were on the table so they should just stay where they are if that is a choice for them and forget selling for their own peace of mind.
My sister was one of these people, but I would never ever list their home, ever, after dealing with her twice, and it wasn't my fee, I never charged my immediate family a dime, even for my out of pocket expenses, and being the broker I could do that. I knew when she was "selling" by the phone calls from the listing agents begging for help, didn't need to check the mls. She was the only person I ever tried to talk into being a fsbo.
Great Points, Bill! When he help buyers make their home purchase, we look for a balance of emotional attachment (they like the home) and their budget (they can afford the home). When it comes time to sell the emotional attachment can often get way out of balance with the financial realities. I'll check out your new WP blog! John
☔ Bill, don't know how I missed this great post! Congrats on nailing THE #1 biggest/best advice for all sellers to hear... Price it right and IT will sell. Don't and you're staying put. Period.
Our echoing chant these days on listing presentations seems to be the same... 'It's a price way and beauty contest' out there these days.
Happy New Year my friend!
Pamela
Bill,
So well said! I was impressed and already ready to share what you've written here on my FB. I guess you already had me. Anyway will check out your new blog too! Thanks for sharing your great wisdom.
DeeDee