If you’re like most sellers, you’ve talked to your Realtor® about setting the right sale price for your home. You’ve probably even had your agent complete a comparative market analysis so you know what your home is worth on today’s market.
But what happens if you’re not sure about your Realtor’s assessment and you feel as if your home is worth more than your agent wants you to list it for?
Your Realtor and Your Home’s Price
For most people, choosing to work with a Realtor is a no-brainer. Realtors live and breathe real estate; they’re in the trenches every day watching homes that sell (and those that don’t sell), bringing buyers from house to house and gaining valuable feedback, and studying market conditions.
They’re experts, and that’s why smart sellers hire them.
But that doesn’t mean you’ll always see eye-to-eye when it comes to setting the price.
Why Your Realtor Recommends a Specific Price
Your Realtor knows that homes priced right sell quicker than those priced incorrectly—and that’s in your best interest.
If your home is priced too high, here’s what happens:
It sits on the market. Some interested buyers may give it a second look, but they’re also looking at other homes; those homes are priced lower but have essentially the same features.
All things being equal, which house would you choose? The one that costs less, probably, just as most buyers would.
So your home continues to sit on the market, and the days slip into weeks, which slip into months.
People start to wonder what’s wrong with your home. Why has it been sitting there so long at that price? It must have something terribly wrong behind the scenes.
And you decide to lower the price.
But lowering the price does something else. It devalues your home. People see that it’s been on the market for weeks (or months), and they see that you’ve drastically dropped the price—but they also perceive it as less valuable. Buyers might even wait around for you to reduce the price again, and when you do, they may offer you even less.
The bottom line: when your Realtor tells you how your home stacks up price-wise with other comparable homes, it’s a good idea to listen. Your Realtor isn’t just telling you so he or she can sell your home and move on; smart Realtors build relationships rather than burn bridges by underpricing homes just to sell them.
Are You Buying or Selling a Home in Aspen?
Call us at 970-429-8275 or get in touch with us online to tell us what you want from your next home. We’ll begin searching Aspen real estate listings right away. If you’re selling, get your free Aspen real estate market update and find out how we can help you sell your home quickly and at the best price.
While you’re here, you can also browse our:
- Basalt real estate listings
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- Snowmass real estate listings
- Woody Creek real estate listings