Most real estate brokers will tell you: overpricing your home from the moment you put it on sale is asking for trouble. You have so little to gain and so much to lose. Here are the reasons why.
A seller may be tempted to ask for an exaggerated price in case a buyer, too naive to realize it or too rich to afford wasting time, finishes by taking the bait. That is wishful thinking. The odds of that happening are slim. Very slim.
Perhaps the homeowner thinks, since there is no hurry, that he will patiently wait for his price, comfortably seated at home. A buyer will eventually come knocking. Wrong!
Spring is fast approaching. That means many buyers will be looking for their desired home. Sellers, on the other hand, will try to make their property look as alluring as possible. Where to start? With the exterior, of course.
Most sellers will instinctively renovate their home’s interior. However, the buyer’s first visual contact is with the exterior, either directly or through pictures on social media sites.
Most buyers will contact the seller or their real estate broker if they see a picture of a property they like. If the facade and landscaping are unattractive, the buyer may move to the next picture, unless the pictures inside are incredible. If the buyer is physically facing the house, he or she will keep on going and move on to the next property.[……]
What do you think is the ultimate goal when negotiating a property purchase? Is it that the buyer does everything in his or her power to get the lowest possible price? Or, is it that the seller gives his or her maximum effort to get the highest possible price? Or, is it none of these answers?
One day, a retired multimillionaire businessman told us what he missed the most about negotiating. His greatest satisfaction was to conclude an agreement where both parties were content. That is exactly what property buyers and sellers should aim for: closing a win-win negotiation.
It is useless for buyers to push sellers against the wall and force them to give up their property for an unsuitable price. This attitude rarely leads to good results. Conscientious buyers not only think about their own interests, but they also think about the sellers’ satisfaction.[……]