Freddy, Home Seller in Staten Island, NY

I want to list high and adjust as market dictates. How do I get buyers to look & make offers even if they are much less than listing price?

Asked by Freddy, Staten Island, NY Wed Oct 2, 2013

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Jonathan Dalton’s answer
Simple answer - you don't.

Most buyers aren't going to waste their time looking at overpriced homes when there are competitively priced homes on the market. The impression isn't "here's an optimistic owner who's willing to compromise," it's "here's an unrealistic seller who doesn't know what his or her home is worth."

Buyers choose the path of least resistance, and that path is viewing and writing offers on homes that are listed closer to the actual market value rather than looking at homes 10 percent or more above the market and hoping the seller's willing to come down to market price.

Don't make the mistake of trying to negotiate the offer before you have one by going high in anticipation of lower offers. It'll end up getting you less money in the end and you'll spend far more time trying to sell.
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0 votes Thank Flag Link Sat Oct 5, 2013
Is the property attractive at a high list price? I have seen some properties that look great on line, and when you get there, well, you notice that the site isn't so hot or the street's a lot busier than it seemed.

For the most part, buyers are looking for properties that they can actually afford, and they have already seen more expensive properties that they can't buy, so they probably will ignore yours, even though - as you say - they MAY be able to afford it!

All the best,
0 votes Thank Flag Link Sat Oct 5, 2013
Hi Freddy

If you start high you'll loose many buyers if your not in the proper range your house should be in so if your motivation is to sell I suggest you sit down with a realtor and have A CMA done and see the price range for your home if you need any more help feel free to contact me

Thanks Felix
0 votes Thank Flag Link Sat Oct 5, 2013
Would you shop at a store that sells everything for 30% more???

what happens when you list a home that's worth $400,000 for $500,000???

the short version: buyers that can afford a $400,00 to $425,000 will not find your home when they search and or even if the do, they will pass it buy because it's way over their price.

buyers that are looking for $500,00 to $550,000 homes will not fine your home worth the price compared to other homes selling for $500,000, So they'll pass it by.

so your home doesn't make it on anyone list of homes to consider.

The knowledge and experience of your Realtor is a valuable asset, so make use of it.
0 votes Thank Flag Link Wed Oct 2, 2013
If you price high, you are limiting yourself on the buyers that will come and look at your house, if you want to sell your quickly, set the right price from the begining, otherwise your house will just sit there. Consult a Realtor and ask him to give you a current CMA(Comparable Market Analysis)up to date. Hope it works, if you have any questions, feel free to contact me.
0 votes Thank Flag Link Wed Oct 2, 2013
Your question is really your answer. If the price is set too high with room for improvement you could be shooting yourself in the foot.
0 votes Thank Flag Link Wed Oct 2, 2013
I don't get the point Why not price the home according to market value, get a fair offer and close the deal. Why over price it and have potential buyers not even bother. They will be turned off by that. Work with a pro who will help you value the property appropriately and get it sold. You must be realistic if you really want to sell it. Good agent may also be turned off by that strategy because property will languish and marketing costs money for an agent and if it doesn't sell everyone's time and money is wasted. A good agent might walk away. Of course there are agents that will list it anyway but a sale is another matter. If you want to sell correctly give me a call 718 316 0011
Good luck
0 votes Thank Flag Link Wed Oct 2, 2013
List accordingly right from the beginning; when priced too high you're left with no one to negotiate with, whereas the other way around, the possibility of multiple offers is in your favor...
0 votes Thank Flag Link Wed Oct 2, 2013
There are lots of ways.
Agents are constantly growing their list of ready, nearly ready or watching buyers. We even have buyers who have identifed a specific street or community they will buy in, should an opportunity present itself. These buyers know the market value in a community and of course they all appreciate a deal.
Unfortuneately, unless you are working with a real estate professional, you do not have access to the four levels of buyers that exist befdore the MLS. If you do not have an agent, you won't even have access to the MLS buyers.
You would be well advised to abandon your 'feel around in the dark' aproach and price your home at market value. Rely on superior negotiations, tangible assets, risk aversion, and ease of purchase, to retain your equity.
How do you get them to look and make offers?
That's worth paying for.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes Thank Flag Link Wed Oct 2, 2013
List at a fair and reasonable price and you will get the most interested and serious buyers. List it too high, you may linger on the market too long and potential buyers may start thinking there must be something wrong with the home etc., Don't work against yourself......
0 votes Thank Flag Link Wed Oct 2, 2013
List according to what the market dictates. If you list high you will just be spinning your wheels and wasting everyone's time. You are better off and if you get an offer counter very close to asking price. This way it is not one of those houses that sits on the market forever. Thiis way you get more showings and might even create a bidding war.
0 votes Thank Flag Link Wed Oct 2, 2013
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