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Tuesday, September 21, 2010

My Very Special But Overpriced House in Viera is not Selling...Why?

When a real estate listing becomes stagnant - no buyer prospects even calling - sellers gets discouraged and fingers start pointing.

Affixing blame for an overpriced house is often not very easy sometimes.  It could be the listing real estate agent has failed to advise the seller correctly.

Or, perhaps....
  • There are times when a seller will "give" their listing to the real estate agent who says the list price should be the highest.
  • There are times when the listing agent is out of their local area and just guesses what the list price should be! 
  • There are times when the seller "just knows" the value of their house. 
  • There are times when a real estate agent accepts the overpriced listing because they know they will get buyer calls from having the sign out front! [By the way, this is flawed thinking!] 
Sellers NEED to understand the market sets the price not the seller. Sellers NEED to understand that all the open houses in the world will not sell an overpriced property.  Sellers NEED to understand the longer a property stays "on the market" the less appeal it has to buyers (what's wrong with is house?)

Real estate agents NEED to understand the market sets the price.  Real estate agents NEED to understand that an open house every weekend will not sell an overpriced house.  Real estate agents NEED to understand that the longer a property is on the market the less appeal it will have to buyer's agents and thus their clients.

When the real estate agent and the seller understand the local real estate market they can work together and sell.  Until then, they will just chase the market as it continues to go down!

For help in selling your house or condo in Viera, Florida, call me at 321-693-3850 or email me, Gary L. Waters PLLC, Century 21 Baytree Realty, Rockledge, Florida.

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