As you may have read in our post about pricing right the first time, the longer your home stays on the market, the less it will sell for.
According to the National Association of Realtors®, “Recent sellers typically sold their homes for 98% of the listing price, and 43% reported reducing the asking price at least once.” Why did they reduce their price? Because their home was not selling as quickly as other comparable homes.
The reason your agent is trying to sell your home as quickly as possible isn’t necessarily because he or she just wants to have it over and done with. Realtors® know that homes sell quickly when they are priced correctly and staged according to the typical buyer’s eye. The longer your home stays on the market, the lower the eventual selling price.
Take advantage of the market
In 2014, the Kingston market experienced a very bizarre pattern. After flat sales in the previous years (sellers were lucky to break even if they bought in 2012 and sold in 2013), the early spring of 2014 was looking like a good, healthy rebound. Homes that listed in February and March were selling for more than the previous year, and things seemed back on track. However, by June when the market was saturated with listings, prices were already dropping. By August, 3-year-old home with nearly exact specifications as one that had sold in March was now listed around the price that the earlier home had sold, and eventually sold for $5-10,000 less. What a difference a couple of months can make!
This is why we help you list your home as soon as you are ready, and at a competitive price. We don’t want you to be the August sellers who have already had to dig deep on one or more price reductions because the original price was too aggressive for the market.
Less time, less stress
As sales representatives who care about you, we try to save you stress! The quicker the sale, the less the stress builds up. If you are purchasing a new home, you are going to need stamina for the buying process, especially if you are relocating to a new area and starting a new job.
Moving on to life’s next big thing can be pretty exciting, but the stress around buying and selling real estate can have a dampening effect.
We are available to you all year round and have all the time in the world for your home to sell. We can accommodate you if you are not in any rush to sell and really want to take your time and feel out the market for yourself. However, the secret we have learned by repeating the listing process many, many times is that the “right buyer” will come along only when the price is right.