Pricing strategy....or should I say pricing strategies?
I was discussing pricing strategy with a seller today. He proposed pricing high and, if he gets an offer, fine. He also suggested pricing at about 110% of his desired price so he can negotiate downward and appear to be making concessions.
I recommended against both of these approaches.This is a buyer's market. There are many short sales and foreclosures on the market. Additionally, there are many motivated sellers who are pricing competitively with the market. Any good Realtor would know his home was overpriced and rule out showing the listing.
Perhaps it would be shown but as a comparable to make other listings look even more attractive. Buyers (and their agents) are aware of the market and are unlikely to be fooled by such motivation.
Expecting to negotiate is a good thing but don't price with primarily this in mind as your strategy. No offense for you auto sales folks but that is what car dealers do!
After some discussion this seller decided - price right or don't make the effort. Sometimes, you just have to talk it through! I will concede there are as many strategies for pricing as there are sellers!
If you are considering selling or buying a home in the Viera Florida area, please feel free to contact me at email@example.com or by phone at 321-693-3850. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.