Dear home sellers,
BEWARE!
I don’t think NOW is the time to over price my home for sale. Thinking I’ll sell my home for what my neighbour did two years ago is a distant memory.
I think one of the worst, and most expensive things I could “do” as a home seller “chase the market down“.
Here’s what I mean …
If home prices are under downward pressure, when homes are sold for less and less money a new market is re-established lower and lower. These homes become the new comparable price points.
If I begrudgingly reduce my list price, the market might have already been established much lower. My new lower list price might STILL be too high and out of the market.
I do think a reasonably aggressive home pricing sales strategy IS a good idea.
Here’s another scary thought …people might be in a position to desperately sell their home to avoid foreclosure or bankruptcy. If this becomes the REALITY of our market – look out!
How To Avoid Price Drops All Together?
Instead of fire selling my home, dropping my list price and bending to home buyers demands, what if I did something completely different?
What if I offered ALL potential homebuyers a price guarantee, if they purchased my home?
Sound interesting? I think it is!
Here’s why:
- No more price drops. Instead offer a guarantee.
- Differentiate my listings. This is especially advantageous IF the listing competition is quite similar to my home.
- Extra negotiation. If I get an offer on my home, below list price, I can take away the price guarantee.
If you would like to learn more about how YOU can offer a price guarantee on your home listing, click here!
Talk soon,
Chad Moore
