What Home Sellers Should Avoid in the Silicon Valley
In the Silicon Valley real estate market, you can not underprice a home. There are enough motivated homebuyers out there that will bring the house up to its real value. The biggest mistake a listing agent could make is to overprice a property. There is a price point for a home where the pain is too high, buyers will not come to the place and the house will sit there.
In a market where things are moving fast and everyone has the expectation that things sell in a week, if a property is on the market for two or three weeks then people start to wonder, “what’s wrong with the home?” There are cases where a home sits on the market too long because a home seller has unrealistic expectation that is different than what the market dictates. They may hear or read something that gives them a false estimation of what the home is worth. When this happens, home sellers typically get less for the home overall than had they underpriced it and kept it just below market value.
Understanding Both Buyers & Sellers
You can’t know what is going on in the market if you only represent one client. Understanding the buyer’s mentality and the seller’s mentality is essential to the selling process. What was popular five years ago is probably no longer relevant today. The demographics are always changing, but this is the beauty of the business.
Two things that will get great results for home sellers in today’s market:
1) Position the home and make it look its absolute best before it goes on the market.
2) Make sure you price the house right from the beginning.
For additional questions about the real estate housing market or housing tips for homebuyers, contact Gary Herbert at:
Gary Herbert
http://www.siliconvlyhomes.com/
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