Pricing a home for sale in the Raleigh market is not an easy task these days. I still hear some local Realtors say that Raleigh is fine and that the problems are somewhere else in the country. That’s a load of bull puckey.
Our market is challenged with higher inventories and fewer buyers that qualify for mortgages. Also, buyers moving here from other parts of the country may have homes to sell elsewhere and less equity to use for their purchase thus placing more pressure on home prices.
I was talking with a friend the other day and she expressed how one of her listing clients had finally reduced the price on their home to where she felt it would sell. The problem was that she had spent 5 months marketing the home at a significantly higher price.
Sellers unhappy with what their a suggested listing price often say “Let’s try it at my price and see what happens.” Bad idea. If your home was worth more, your agent should have suggested putting it on the market at that price. We have all saved money by buying last year’s car or last season’s fashions at clearance prices, and your home is no different. Buyers will expect to pay less for a home that has been on the market for a long time. Homes on the market for a long time will sell for less than they would have if they had been listed at the price first suggested by the Realtor.
You should expect knowledge and expertise that you trust when you hire a Realtor to sell your home. Why would you hire a Realtor that you don’t trust?
We don’t second guess our doctor, lawyer or accountant when they give us their professional opinion. But some of these same people that would never dream of second guessing their doctor or lawyer don’t hesitate to tell their professional Realtor how to do their job.
You hire a Realtor because of their knowledge and expertise in the real estate market and of homes in your neighborhood. They are your agent and bound by the Realtor Code of Ethics and license law to promote and defend your interests. Their suggestions and advice are based on experience and desire to meet your goal of selling your home for the best price and terms for you.
It comes down to this:
If your Realtor can justify their suggestions and plans to your satisfaction, you should trust their judgment and expertise. Ask lots of questions and then hire a Realtor you are comfortable with and can put your trust in.
There are a couple of important points to remember when talking with your Realtor. First, your Realtor does not determine the value of your home; the market determines what your home is worth. Your Realtor’s job is to interpret what the market is saying and apply it to your home. As the old adage goes, “Don’t shoot the messenger.” They cannot change the market or make your home sell for more than it is worth.
I am passionate about representing my clients best interests and making them better home buyers and sellers. Don’t let a few bad apples ruin the bunch for you.