In a real estate market like the Brevard County, Florida residential market in November 2015, sellers have the advantage.
Within reason sellers can often price optimistically because most other sellers seem to be pricing optimistically as well. Of course, it is ultimately up to the buyer to make an offer.
The challenge for buyers is when the house they really want shows up on the market but the price is a bit optimistic. That is the nature of the current market.
Buyers must understand the market will either
- bring an offer at the optimistic price,
- convince the seller to negotiate a lower price,
- motivate the seller to withdraw the listing from the market.
If that involves waiting in hopes the seller will be convinced to lower the price then the risk must be understood. An offer may come in and your search will be back on.
But if the house is really the one that fits your needs, wants and budget, listen to your real estate agent.
Look at the comparables with an understanding of the market (prices are rising). Then, with decision made, go forward with haste if an offer is in the works.
But, if the total package (price and terms) is not acceptable, be patient!
The key is be patient when necessary, impatient when required and, unemotional always - until closing. Emotions can cause a bad decision.
Sellers must be careful to not overestimate their position of advantage. A house that lingers on the market for too long is often perceived to have problems.
Here are a few articles sellers may find helpful.
- What does a seller do when the offer comes the first week?
- What is wrong with 700 days on the market?
- What Signals Are You Sending?
- Name Your Price, Someone Will List It!