“…But I don’t want to give my Surprise, AZ home away”
January 2nd, 2008 Categories: AZ home selling
Ah yes. The ol’ “I don’t want to give it away” objection. I have heard this more times than I would like to admit. It is a common comeback to an aggressive plan in this declining market. 
Price adjustments, or price reductions are a necessity in a downward sliding market. They are a part of the home-sale process. I have yet to meet someone that volunteered to lower their price, this is not something somebody wants to do. Give up thousands of dollars in big chunks. But it is necessary!!!
First let’s talk about the initial market price at the very beginning of the listing. Your realtor consults with you and explains that you have one chance to make a first impression in the very beginning. He/She explains that together the agent and you must plan ahead and prep the home to sell to get the maximum price for your home in the least amount of time. Prepping the home includes touch-up painting, repairing that doorknob that has been broken for 16 months, deep-deep cleaning and most importantly pricing your home correctly. I guess you would need to “prep” yourself for the shock when I tell you what the going value of your home is.
Very few initially go for this price, and sometimes I would choose to not take the listing. Some would price a little higher to “HOPE” for a better price than the market dictates. Everyone seems to think there home is better than average, some are, actually. But when 6% of the homes are selling, that is a lot of inventory to go through. Your home might never be shown because it did not stick out among the 60,000 other homes on the market. So what happens now?
Well, it is kind of like chasing a ball downhill. If you get behind the market, you will never catch up to it, and it will cost you much more money and many more price adjustments to play the catch-up game. The goal is to be ahead of it. Stick out from the competition with condition, location, and price right in the beginning. This will save you a lot in the long run. Also, try and be realistic about pricing your home, use logic. Pricing a home correctly is 80% of the battle. Accept the current market conditions and realize that you are not different, that you are competing against 60,000 other listings plus the builder inventory. As hard as it might be, separate yourself from the home like it was an old book at a garage sale.
Your agent is not trying to give your home away. We are trying to do what “you” hired us to do…. That is to get the most amount of money in the least amount of time.
“I don’t want to give your home away either, that is why you need to price here now, otherwise, the market will pass you up and you will be much lower than this initial price anyway.”
Danny
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