Chinmoy, Home Seller in East Brunswick, NJ

what is the ratio between the listing price and the selling price in east brunswick?

Asked by Chinmoy, East Brunswick, NJ Thu May 7, 2009

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There is no ratio available. And here is why. If a house is placed on the market two years ago and failed to sell even after serveral price reductions by the original agency and a "new" listing agency puts the home on the market a full $80,000 less than the original listing price and it still does not sell even after $10,000 reduction in asking price then the homeowner lists with a "new" agency a full $100,000 less than his original asking price. Then the new agency gets to list the property at $90,000 less than the first agency had started marketing the home. That agency then has the home owner reduce another $10,000. They get an offer $20,000 less than the market price and decide to accept it. The agent after getting to full contract has the home owner sign a new price reduction of $10,000 so that (a) the deal falls apart - another buyer may want to make a bid close to the accepted price and (b) so it does not look bad when that agent tries to get a new listing they can talk about a non-existent ratio.
Web Reference: http://GregoryBain.com
0 votes Thank Flag Link Fri May 8, 2009
There is no actual ratio going in.. Given the variables of home seller "needs" and the actual evaluated price of the home given the comps in the area.. there can be a spread of $10,000 to $25,000.

If a house is priced correctly I would estimate that a house I list would sell wtihin 10 - 12k of the list price.

To me, this is on a house to house basis. I have gone into homes and suggested and verified a 400k list price and the home owner wants to list at 440k... big spread. I have also gone into homes where the owner says.. help me get this sold in two weeks... lets be aggressive and get it done.

Call or Email me to discuss further.

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com
0 votes Thank Flag Link Thu May 7, 2009
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