I suspect what happened here is that the buyer was not new to the market and recognized that the home was fairly priced. This is exactly what happened with a home I recently had listed in Martinsville - under contract in 11 days. Smart pricing, good timing ...and a little luck .... great combination.
If this is your story, congrats. Worry not - not underpriced - "right" priced!
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1 Did the agent dio a good job or bad job - "I could of received more with a different agent"
2. I didn't wait long enough - I could of received more
What really happened - you had a buyer and a seller who agreed on a price - which became the "fair market value".
This what an appraisal is suppoed to be an indicator of.
Were there other conditions - an estate sale, company owned - or just a seller who met a buyer and was happy. Maybe the seller left room for the new owner to enjoy the property and the agents weren't greedy thinking they can get a bigger commisison.
Everyone is happy.
"Unwavering Commitment to Service"
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~~~ "the greatest excitement for a home is when it is newly listed"
~~~ "Pricing properly right out of the gate takes full advantage of the this momentum." Again! Right on the money
~~~ "I suspect what happened here is that the buyer was not new to the market and recognized that the home was fairly priced."
Gary "I'm Not Worthy" De Pury
Gary De Pury
Bay Vista Realty & Investments, Inc.
Chairman, Communications Committee
Greater Tampa Association of REALTORS
Director, Florida Association of REALTORS
No it does not necessarily mean it was priced too low. A new listing gets the most showings and potential offers. It was probably priced just right and there was a buyer out there waiting for that exact type of home to come on the market.
The only thing that needs to happen for a house to sell is a meeting of the minds between buyer and seller. All of that other stuff....Marketing, Price, location, luck, alignment of Jupiter and the moon is cannon fodder if you can't get a buyer and seller to agree, and the thing the agree on is price, with Terms coming in at a close second.
If the seller got the price he wanted for the house, and the buyer got the house he wanted for the price, then you have created a MARKET and the market sets the price.
So in short, no......it was not underpriced, and the bed was JUST RIGHT TOO and goldilocks lived happily ever after.....
I hope this helps!
Gary De Pury
Bay Vista Realty
I've seen seller's think that a quick offer means they were underpriced. They may go so far as to hold so firm to their asking that they loose the opportunity and subsequently languish on the market for months kicking themselves.