You've decided to sell your property and you've a very good notion of everything you think your property is worth. You are conscious that the simplest best oakville realtor way to sell your property is through a Real Estate Sales Representative, so you make appointments with three Realtors® which have been mailing flyers and postcards to you for years.
Each Realtor® meets you at your property and goes through a nice presentation to finally demonstrate their suggested listing price, that they chose based on their CMA. A CMA or Comparative Market Analysis includes recent sales data for similar homes to yours as well as data about homes that expired or have now been canceled.
After the very first two Realtors® you feel slightly disheartened as you feel that the home may be worth more than what they've suggested (even after seeing the facts they presented to you). In walks Realtor® number three and after telling them what you anticipate they tell you their suggested listing price and it's a great deal more in-line using what you were thinking! Excitement breaths back in your world and the bounce is back in your step as you already start counting the money!
I wonder what Realtor® you'd choose... hmmmm...?
Well, if you're like many individuals, you chose Realtor® number three. It is totally normal to want the utmost amount of cash for your home. Most of us want to think which our home is much better and therefore worth more than our neighbour's.
On the planet of Real Estate we call this purchasing a listing. Realtors® will do this for several reasons, mostly simply because they know that you will eventually lower your price, sell your property and they will get paid. Another reason might be to make use of your property to gain buyer clients for themselves...not clients to buy your property but to buy another home in the region that's priced reasonably.
When a home that's priced correctly enters the market, there is a flurry of activity right away and (if it doesn't sell in the very first week) in to the next week or so. Other Realtors® and the general public will be interested to see and find out more...again, only when your home is priced correctly.
If your home is priced too high activity will be low and actually the sole activity it may get is from other Realtors® utilizing your over-priced home as a comparison to their buyer-client to sell an inexpensive home in your area. Remember that Realtors® are perfectly informed and know each time a home is priced too high (anything will sell if the cost is correct) and will use t to their advantage.
When 2-3 weeks pass by and you reluctantly lower your price, to at least one that's now more aligned with the very first two Realtors® you met with, you might gain a tad bit more action, but unfortunately you are now a "stale" listing. The game you'd have experienced if you had priced your property correctly right away will never be recaptured. Now is also the full time that you probably get your first offer...and it will be a low ball because Realtors® and people have watched your home sit and now see that it features a discounted on it. After all now they will assume you're desperate and need to sell ASAP.
Pricing correctly the first time is the ONLY method to go. If you're putting your property in the marketplace - be realistic and really consider the very first two Realtors®...you find yourself selling your property faster and to find the best price.
I promise there actually are good Realtors® on the market (many in fact), who actually care and want to help you...make sure you use one.