Buyers determine Price, no matter how awesome your property!

Sellers do NOT determine Price; Buyers DO!  What??  This is the one Listing appointment principle that is the most difficult for my Sellers to really accept.  Each one of us, when we put on our Sellers’ shoes, thinks of all the money invested and time spent on our property.  The Reality of the Market at the time of your Listing MUST over ride these numbers and personal feelings.  IT DOES NOT MATTER.  What matters is very simply “What will a Buyer pay for your property?”

Working with a local Realtor who can show you exactly what the past SOLD properties have included, and how they compare to your own is critical to determining your Listing Price.  Your Upgrades List is very important, as is your Lot orientation, architectural style, actual floor plan, quality of upgrades etc.  Do NOT start adding the dollar amounts of these upgrades together and coming to a “number you HAVE to have to sell.”  Again..ultimately, that does not matter to your potential buyer.  Put on  your Buyers’ shoes now.  When you are looking for a property, there are certain things on  your “Drop Dead Must Have list”.  There are also amenities that you “Would Love to Have, but can Live Without.”  But, you as a Buyer, do not want to feel that you are paying the highest price for that home in that Neighborhood. [Read more…]