One of the worst things a Seller can do

One of the Worst things a Seller can do when listing their house is price it too high.

 

Why? Because it may sit on the MLS (Multiple Listing Service) for a longer time, and be subject to price reduction upon price reduction.  And after setting on the MLS, the buyer will then think that there is something wrong with the house.  The longer it sits, the worst they think it might be, and the first thing on their mind is to offer a really low offer.

 

When Listing a house the agent will do ‘comps’ of the houses that have sold in the area, with the same square footage and room count, to give a good idea what is selling.  Yard size and upgrades are a plus, but not always relevant enough to raise the price thousands of dollars.

 

The longer there is a “For Sale” sign in your front yard, the more your anxiety levels rise, the more the buyers wonder what is the matter with the house, and in the end unless the price is lowered to that of what is selling around your house, it will continue to sit.

 

The listing agent should take the comps of the area and along with the time frame that they have sold in, the time frame the seller wants to sell in, and come up with a price that will move the house –usually within 30-60 days.