6 Counters to Price Resistance
TIP: Remind sellers that you benefit, too, if the property sells for a higher price, since your commission is a percentage of the sales price. It helps sellers understand that you are on the same team. —Nathalie Ames, Coldwell Banker, Chicago
- A high price won’t be supported by an appraisal, so buyers won’t be able to obtain financing.
- If your property lacks something that’s important to many buyers—such as a garage—that must be reflected in the price.
- Real estate salespeople don’t dictate price; the market does.
- 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.)
- The beauty and sentimental value of your home aren’t factors in the price.
- 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.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.