THE TRAGEDY OF STUBBORN SELLERS

Sellers who demand too high a price usually end up selling for too low a price. They don’t realise it – especially at the start – but they severely damage the value of their homes by demanding too much when they first list their homes for sale.

Some sellers don’t need an agent, they need a magician. These are the stubborn sellers.

If you have a lovely home, of course you should get the best price. If you control the process. But being in control does not mean being stubborn. If you hold out too long you will surely sell too low.

No one can pick the high or low of a market. No one can control a market. All they can do is get the best price in the market in which they buy or sell.

Getting the best price is an outcome you can definitely control.

If your home is for sale for more than a few weeks and no one buys it, there can only be two reasons (or a combination of both): Either your price is too high, or your agent is too incompetent. Stubborn sellers always blame agents.

But, regardless of the reason, here’s the danger: If your home is unsold for too long, buyers think the price is too high or something is wrong with your home.

And then low offers come. Time usually forces prices down.

Here is a common tragedy: Sellers list with an agent. Their property does not sell because they reject the early offers and, maybe, the agent’s advice.

They change agents.

The second (or third) agent sells their home for less than the price obtained by the first agent. Those early offers can be the best offers.

If you do everything right – and your home doesn’t sell – you must reduce your price expectations. This does not mean you “lose”. Expectations are not assets. You can’t lose what you never had.

To get the best price, be the best seller – in information, in control and in being smart. Not stubborn.

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