Here’s a great blog!  Many good comments from other agents!  Click here to see:   http://activerain.com/blogsview/652670/Your-Asking-Price-Determines

I’ve lost listings by being honest about the price, then as much as a year later, guess who they’re calling?  Or the seller will agree to price it as I’ve suggested after our listing expires & they have another Realtor tell them the same thing.  That stinks because if the seller had priced it like I suggested while it was listed with me, the property would have sold.  The bottom line is, if your Realtor asks you for a price reduction, just do it!  I still struggle with the “convincing” part sometimes.  But, being honest about the price has saved me by revealing the true motivation of the seller & some have even decided not to sell after our meeting, thus I’m glad not to add to the abundance of inventory! 

Price is paramount, especially in a buyer’s market.  Seller’s often have rose-colored glasses & are under a pricing misconception.  The buyer always determines value:  high when inventory’s low, low when inventory’s high.  Value is NOT determined by:
(1) What you paid for the property.
(2) What you need to get for the property to buy another one.
(3) What you need to get to pay off the 1st, 2nd, and/or 3rd mortgage(s).
(4) What you need to get to pay off credit card debt.
(5) What you want to get.
(6) What your neighbor says.
(7) What your neighbor’s property sold for b/c condition & terms were different.
(8) What an agent says who’s willing to tell you what you want to hear just to get the listing.

Marketing counts:  it’s not as easy as it looks, nor is it cheap.  A conscientious agent counts:  garbage in, garbage out.  Terms count:  most people don’t know the complexity of the transaction from start to finish.  All of those things are probably why FSBOs have dropped to about 12% or less. 

Perceptions aren’t always reality:
(1) The seller sees their property as a castle.
(2) The buyer sees the same property as a decent house.
(3) The home inspector sees it as a dump.
(4) The lender sees it as a risk.
(5) The appraiser sees it as declining in value.
(6) The media sees it as an example of across-the-board economic instability.
(7) The tax assessor plays catch-up, seeing the property as a castle in a down market & just a decent house in a hot market.
(8) Who’s right?  If the buyer wants it, that’s who determines its value.

Can you think of anyone who may be considering buying, selling, or investing in real estate?  If so, please let me know … I value referrals and do them nationwide!  Can you think of anyone who’d like to pay off their mortgage in a fraction of the time?  If so, please let me know!

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THANK YOU!
Cynthia Hash, Realtor/SRES/GRI, Keller Williams Realty
FULL SERVICE REALTOR .. www.FindHomesInCharlottesville.com
GET HELP THRU CAREGIVERS LIBRARY .. www.AgingYourWay.org
ALWAYS WANTED A LOG HOME? .. www.CedarLogStructures.net
WANT TO PAY OFF YOUR HOUSE? .. www.PayOffYourHome.org
Cell: (434) 531-5351 ~ Fax: (801) 681-0286 ~ Email: hash@kw.com
Ofc: 1885 Seminole Trail, Ste 100, 2nd Floor, Charlottesville VA 22901
Matthew 7:12 is NAR Golden Rule