Wednesday, January 20, 2010

Even if You LOVE Vegas - Don't Be A Gambler in the Wake Forest NC Real Estate Market

If you want to sell your home in Wake Forest NC AND you contract me as your Realtor® you can be sure that you will receive a thorough, in-depth and detailed CMA prior to suggesting your listing price. Now, what I don't understand from past sellers is their need to take all of the work that I have put into that CMA and decide to gamble in the Wake Forest NC Real Estate market.

When I suggest a listing price it is based on several criteria:

  1. The CMA that I prepared for your home which takes into account the current listings in your neighborhood (your competition - fair market, foreclosures and short sales), the homes that are currently under contract (how long were THEY on the market, did they adjust their price, what was the Wake Forest NC Real Estate market like when they initially listed their home, etc.) and the homes that have sold in your neighborhood in the last 3 months. Notice I didn't say 6 months, 9 months or a year - that is just not relevant anymore.
  2. Your motivation as the seller to get your home sold quickly. Are you downsizing, relocating, upsizing, or are you in financial crisis and must sell.
  3. The condition of your home. Is it in pristine showing condition? (I'll reserve what I consider that for another post) Do you have curb appeal? What stands out about your home from the competition. And, no, just because YOU think your home is better than the competition doesn't mean that it is - you are EMOTIONALLY attached and viewing it through rose colored glasses shaded with sentimentality, warm-fuzzies and emotions.

When I suggest a list price it is because I have done the research, visited the competition, and evaluated your current situation. When a seller counters my list price suggestion with a higher price they are only gambling in the Wake Forest NC Real Estate market. I think they always think "what-if" - well, let me share with you some of the what if's if your home enters the market listed too high.....

  • you won't be taken seriously as a seller. Remember, buyers have BUYER'S AGENTS and they areWake Forest NC House Chick educated as well. They'll know the competition and realize that you are priced too high.
  • Once you lower the price you take a huge gamble that your home has become stale. You become THAT house. And, if you think that you can take the house off the market and relist it you CAN'T. Did you know that it is unethical in Wake Forest NC for a Realtor® to do that? Besides, MLS now keeps track of cumulative Days on the Market (DOM). Again, buyers will have a BUYER'S AGENT - they will know!
  • When you do lower the list price you may have very well missed a selling window. Let's say you list in the Spring - the prime time to get homes fresh and sparkly and on the market. You price too high, wait a few months and then decide to lower the price. You have just missed one of the best selling times of the year!

So, whether you choose me as your Realtor® in Wake Forest NC or another - trust them! It's why we do what we do!

  • Ask questions - I, personally, love to involve sellers in the process.
  • Trust - the highest respect I can ask for is your trust!
  • Listen - one of the pillars of the foundation of a professional relationship is listening

Wake Forest NC Real Estate marketAnd, if you ARE thinking of listing your home I would welcome the oppportunity to earn your trust in me! I don't gamble! Besides, I AM the Wake Forest NC House Chick! I live, work and play in Wake Forest NC and I know the Wake Forest NC Real Estate market better than anyone! Feel free to give me a call at 919.649.6128 or simply send me an email!

For more information regarding CMAs or what a Market Analysis is then don't miss this post!

A Walk Through Historic Wake Forest, NC