Home for Sale - Image Credit: https://www.flickr.com/photos/106574022@N04/11415768915

Someone who is overly optimistic and eager to sell their home may pick a sales price for the home that is way overpriced and unrealistic. These are the same people who make the assumption that dropping a price is a very easy and harmless thing to do. You also have some homeowners concerned that the real estate agent might just be suggesting a sales price that is nice and low so they can get a fast sell and a quick profit.

Yes, But Real Estate Agents Have a Good Reason

Yes, real estate agents want to set the sale price slightly below the market value. This is because they do want to sell the home and make some money. However, this is a fairly common practice real estate agents use because it is the easiest way to sell the home. Furthermore, you see a home for a price that is affordable and slightly under market value, and it is not surprising for it to get multiple bids which ends up driving the price up.

They Will Think You Are Desperate

When buyers notice a drop in the sales price of a home, the immediate thought is that the seller must be desperate to sell. This means they will wait to see if the price is going to drop more, or they will place a bid for something even less than what the new price is.

The Seller Made a Mistake

The buyer may also think that you made an error when you were setting up the price of them home because you lowered the price. This is going to make it hard for the buyer to trust you.

Lastly, the buyer might think the value of the home is questionable. If you are dropping the price, they may begin to wonder if something is wrong with the home.

Posted by Gillian Krol on
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