The Worst Mistake that Sellers Make!

It's tempting!  Everyone wants to do it!  Why?  Because it's natural! There have been studies done about this!  The researchers gave the subjects objects to see if they would trade or sell their object.  The majority of people wanted to sell their object for 7x higher than the people were willing to buy it.  People naturally once they own something want to sell it for more than other people are willing to buy it for.  So what are the ramifications of this in a buyer's market in real estate?

We call this stale bread.  How much are you willing to pay for a fresh loaf of newly baked bread?  How much are you willing to pay for it when it is stale...4 months old?  Probably hardly nothing. The same concept happens when you list your home on the market.  You can sell fresh, or you can sell stale. Here is a real life example of FRESH BREAD and STALE BREAD!

Utah Dave sold this home for $255k.   We sold it in just a Month and a Half! This is what we call Fresh Bread!  We sold it while it was fresh!  Our listing did not have the basement finished.

Another agent sold this home.  It was the exact same home, however, they sold it for $240k!  Plus they had a finished basement.  OUCH!  This was on the market the same time ours was on the market but this home took 6 months to sell!  This is what you call Stale Bread!

So why did our home sell for $15,000 More than the home exactly like it?  Plus we didnt have a finished basement which was another $15,000!

Our seller netted an extra $30,000 than the competitor's home which was exactly like ours.

Yes, we believe our system sells homes for more, but there is a key factor in getting to the right price. It is pricing it right the first time!   The competitor listed their home at $297k to start.  They had many price reductions which ended up at $240k.   We priced our home right the first time!  That is just one part of why we sold it in just a month and a half timeframe.

Avoid losing a ton of money on your home by pricing your home too high.  Price it right the first time!

David Robison, Broker, CRS, GRI, e-PRO
Robison & Company Real Estate
10380 S Redwood Rd South Jordan, Utah 84095