Discussions in real estate office center on pricing these days. Agents can be heard exclaiming that they are not sure why the home they have listed is not selling. It is the lowest in the neighborhood, it is clean and shows well, the seller is offering incentives and the home has received the best marketing available and yet, no offers. The conclusion is there are not enough or no buyers. Which is correct, sort of.
There are not enough or no buyers for the home in question at that price. It isn’t that every buyer on the face of the planet has vanished; it is just that those buyers have a tremendous inventory to choose from.
If you truly believe there are no buyers, imagine for a moment that you changed the listing price and offered the home for sale for 1 dollar and see how many offers you receive. I know, that is unrealistic and crazy sounding but the point is at 1 dollar the home would attract a buyer or many buyers. The goal should now be for the seller and agent to determine how far above 1 dollar the home needs to be listed for in order to still receive interest and possible offers from buyers.
Pricing is huge in this market.
Related Florida real estate views:
Smart home sellers listen to what the market is telling them.
Pricing your home right from the beginning
Florida Realtors who test the market may receive a failing grade.
- Greg Staker Watson Realty Corp. 407-304-0255
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