Is my house overpriced?
Originally uploaded by thenelsonproject
In basic marketing if something is on the counter and no one is picking it up and talking about it, it’s not priced right.
Let’s say the following is true: you have hired an experienced reputable Realtor, you have good photos and hopefully a virtual tour online, your Realtor is holding some open houses, your house has some location and some curb appeal.
But your house is not selling.
Seller says or realtor says “it’s priced right.” It’s been on the market for 3 months with little traffic and no offers and “it’s priced right”? Right.
What’s the problem then?
It’s condition. Ok, fix it up. It needs to look as good or better than everything else on the market. This is basic marketing. Or price it accordingly.
It’s location. Ok, then … move the house.
There are only so many factors in the real estate equation:
Location
Condition
Marketing
Market
Price
If you hire the right Realtor, then that should take care of the marketing factor. We cannot control market. Can’t change location. That leaves condition and price. There is nothing wrong with any house that the right price and terms won’t cure. This is basic real estate.
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