You made the decision to sell your home. You hired a realtor. You put flowers by the front door, made sure you had an apple pie in the oven, a sign on the front lawn and you waited … but your home didn’t sell.
That can be quite a frustrating experience, especially when you thought you did everything right. And now your phone is ringing off the hook with calls from realtors promising you they will get your home SOLD.
While the natural reaction is to blame the photos, the last realtor, the season or the noisy neighbors, the reality is that market dictates exactly when and how much your home will sell for. What does this mean? Real Estate is no different than other types of markets… it’s based on supply and demand. Any home will sell at any time. The only variable is how much the buyers are willing to pay for it. That is based on the basic laws of supply and demand. Like during the holidays, that suddenly HOT toy that is suddenly impossible to find, has people willing to trample Grandma with a shopping cart, travel hundreds of miles beyond state lines or pay an additional $1000 for shipping because they MUST have it!
Yes, nice pictures, a competent realtor and a well planned marketing strategy are key pieces to the equation, but ultimately the right price will put your home in front of the RIGHT audience. Like a car, if a Jeep is being marketed at a Mercedes dealership, chances are it will have a difficult time finding the right buyer. Not because there is something wrong with the Jeep, but rather it is being showcased before the wrong audience.
Ultimately, even if you priced your home a bit outside the curve ( or if there are many homes available at the time and you’ve priced competitively among them), you may get an offer from a perspective buyer. But with a lower price, you may get that exact same offer from multiple buyers giving you the option to pick and choose the most desirable, or maybe creating a bidding war yielding a higher offer, because in that lower price point, your home will be in the greatest demand, causing buyers to compromise on logic and resort back to Black Friday frenzy.
So don’t fret…. Put the pie back in the oven, fresh flowers in a vase and prepare for your new audience. There is a buyer for every home, including yours!
Authored By Valerie Vargas, aka The Pilot