By Living Room Realty, June 20, 2023
Wow. Listen up about the power of a price *correction.*
My Sellers decided to list Sunny Delight at $575K a few weeks ago, and while we had great activity, we saw zero offers. Being on a busier street was holding buyers back.
Pricing is a strategy, and because we were working with this un-fixable buyer objection, we decided to test the market with a price on the higher end of the range, with the plan to adjust after a few weeks if it hadn’t sold.
After nearly 3 weeks on market, we lowered the price to $560K. Who knew $15K would be the magical difference between zero offers and FOUR!? Even better – one of the offers was at our ORIGINAL LIST PRICE of $575K!
As experienced buyers and sellers in multiple markets, they were OK with the home taking a little longer to sell. We discussed multiple strategies and they chose the one that worked best for them. It paid off in the end. While we got a slow start, my Sellers are thrilled to have accepted an excellent as-is offer with AMAZING terms and a 3 week close.
The lesson to Sellers: discuss ALL your options, know the potential outcomes of each, and make a game plan ahead of time if the house does not sell in the first weekend.
Cheers to my sellers – now onto closing!
