SOLD FOR $306,000 ABOVE ASKING...and why that is nothing to boast about.

Dated: February 12 2021

Views: 212

Your neighbour with a similar home on a street close by sells their house a month ago for a whopping $1.75 million. You imagine it’s a great time to take advantage of current market conditions and finance your planned retirement. You call a Realtor, and they come up with a plan of action – underprice your house to create a bidding war and drive the price up. The list price? $1.2 million. You spend the following week preparing the house you called home for the last 40 years so that it can show at its best on the market and sell for the most amount of money. This IS your retirement plan after all.

The house goes on the market, and you get a ton of showings. It gets so busy with mostly unqualified buyers, that you can’t even get any time to yourself in the house and have to spend it outdoors for most of daylight hours. One week goes by, and GREAT NEWS, we have 26 offers! Most offers come in below or at the price you asked for, but one of them shines at $1.506 million. WOW! You accept the offer and think you’ve done a great job! After all, you just got $306,000 more than you asked for. Your Realtor proceeds to advertise this as sold for $306,000 above asking, boasting at their feat.

Unfortunately, this has become the sad reality in our market place, considering the strength of this market. This approach to selling your house does nothing but cause you anxiety during the sale, leaves hundreds of thousands of unrealized dollars on the table, and allows the Realtor a marketing opportunity to boast about their “success”. Don’t get caught in the gimmick. The only person losing in this scenario is you! Your home deserves the respect of a proper pricing and marketing plan. Choosing the right Realtor has never been more important than in today’s market.

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SOLD FOR $306,000 ABOVE ASKING...and why that is nothing to boast about.

Your neighbour with a similar home on a street close by sells their house a month ago for a whopping $1.75 million. You imagine it’s a great time to take advantage of current market conditions

Read More