The Seller Wants More Than The Property Is Worth

by Ed Black

The most effective strategy for negotiating with a seller who wants more than market value in my experience is informing the seller so they can make an educated decision and the time and circumstances of the seller.

In this case, and depending on the market situation, when the seller's price is higher than recent comparable properties in the same area. Here are the main things for the seller to consider.

1) The Seller with a higher-priced property will receive fewer viewings. In most cases, a property on the market over 90 days is overpriced and may not even get any showings at all.

2) Less, or perhaps no offers at all on their property.

3) Sellers who price their properties slightly below or in line with recent properties sold will sell faster.

4) The property may sit on the market longer than necessary.

5) By waiting to sell for a higher price, interest rates may increase and affect the affordability that buyers can purchase in a particular price range.

It is important as a seller to have your real estate agent do a comparable market analysis on your property to help the buyer set the list price for their property. Ultimately, the choice is up to the seller.

Perhaps the real estate agent sharing the recent comparables may help convince the seller that their price thinking is too high.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be considered financial or investment advice.

For questions about real estate, contact Ed Black today at (403) 830-8510.

Ed Black
REALTOR®

This is not intended to solicit buyers or sellers currently under contract with another brokerage.