Why do people always have to learn the hard way?
When I go to a listing appointment, I am honest and straight forward about the price. Everybody keeps saying. “In this kind of market it is so difficult to determine the asking price” Sorry, I do not agree, it has never been easier. If you know your market and your area, just look at the sold properties, compare to your listing and keep in mind that a potential buyer will NOT pay more than what the neighbor sold for. Even if he was willing to pay more, it would not appraise and therefore the lender will not give a loan to the buyer. It is that simple. I have been to a few listing appointment last year where I did not get the listing. The seller had a very unrealistic price opinion and they chose to go with a Realtor that would agree with their opinion. All of them are still on the market, been reduced a few times, but you can clearly see, that they are “chasing” the market and that just does not work. So, what have they gained? The lost time, lost potential buyers, spend more money on maintaining the property and pretty much put their lives on hold.
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