Avoid THIS Mistake When Selling Your House In The Beach Cities Part 2
Avoid THIS Mistake When Selling Your House In The Beach Cities Part 2
Today we’ll talk about how to avoid this mistake when selling your house in the beach cities. How To Price Your Home Correctly? Part 2
Question: Can you overprice your house in a hot market with low supply & high demand???
YES! Price it correctly… You can be selecty.
Are some houses NOT selling even in this market???
YES!
How does that even happen? Well a couple of things… It can be the G factor
In my #1 Best Selling Book – Dwelling Selling – How The Internet Made Selling a House in the South Bay Easy and Other Funny Stories
On page 49… I’m talking about Overpricing… and I quote:
“These conditions, however, have been kown to cause a person to become GREEDY. I call it the “G-Factor” or G-Facto for short.
It can cloud your ability to be logical about what’s going on… Keep a sharp eye out for the G-train. ANND Don’t be G-ee!”
Possibly your agent gave you some bad advice on how or where to price it. Or your neighbor… or some guy on a plane…
Bottom line… is… if you have a house on the market for over 10 days in this kind of market, you’re probably priced too high.
Quiz time!!!
What are the 3 major factors in selling a piece of real estate?
Location location location???
WRONG!!!
It’s Condition – Location – and PRICE!
You can’t change location, you can change condition & if you don’t -then it’s Price.
Currently in the 3 Beach Cities, there’s 169 Active listings. 44 of them have lowered their prices. That’s 26% of the Active Inventory.
When I look at the Under $3M mark (which is the price points that are selling with the most buyer pressure) there’s 113 Active listings & 25 have had price reductions- that’s 22% of the Actives. By the way, the Median Days on Market is 20.
Now over $3M- there’s 56 listings & DOM is 61
Soooo even in a hot market, you can Overprice!
How To Price Your Home Correctly?
What have we learned so far? Other than “Don’t be G-ee??”
How do you avoid this mistake when selling your house in the beach cities? And How Do You Price Your Home Correctly?
Price it at market or a little below for maximum exposure & you might just get multiple offers & you can choose the best one! Overprice it and you get to clean your house 270 times for 114 showings, 48 of which were no shows?
You want to savor a lazy 234 Days On Market? Maximizing the amount of strangers in your home w/ unattended children leaving every door open?
No of course you don’t! You need to have a PLAN!
Call me with questions & we can discuss how to make a PLAN tailored to your needs.! See you in the cul de sac!
Cheers!
Virtually Yours…
Daryl Palmer Real Real Estatetist
Re/Max Estate Properties RE# 1986622
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