6 Counters to Price Resistance

  1. A high price won’t be supported by an appraisal, so buyers won’t be able to obtain financing.
  2. If your property lacks something that’s important to many buyers—such as a garage—that must be reflected in the price.
  3. Real estate salespeople don’t dictate price; the market does.
  4. The monthly payments on the price you suggest would eliminate a large number of buyers. (Calculate out the amount of income buyers would need to carry an 80 percent mortgage with payments equal to one-third of monthly income.)
  5. The beauty and sentimental value of your home aren’t factors in the price.
  6. The amount of money you need to buy your new home isn’t a factor in the price.

Adapted from How to List and Sell Real Estate in the 21st Century by Danielle Kennedy and Warren Jamison, Prentice Hall.

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