Jul
10

Seller, is Your Home Being Setup?

By

With the improving conditions in some markets this spring, a potentially growing number of setup homes are popping up.  When an apartment is on the market with an unrealistically high asking price, has many showings for buyers and agents but no offers, the home could be a setup.  Some Real Estate agents will use the overpriced home as a negative example to sell other, similar homes that carries a more realistic asking price.  It makes the lower priced home look more attractive.

 How to avoid having your home being used as the Setup:

  • Make sure your home is realistically priced.
  • Ask your broker for the Competitive Market Analysis for other homes sold in the area that are similar to yours.
  • Remember there is no way to put a price on sentimental value.
  • Follow your Real Estate Broker’s advice in pricing.
  • If you are getting a lot of showings but no offers, start asking why that may be.

In the end, it is about selling your property and moving on.  Educate yourself on the market.  If you’re holding out for an unrealistic price, your home will probably become the home that everyone loves to visit.

 

Inspired by Miami Herald article.

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