Our Blog

The current real estate market also has a zero tolerance policy for properties that are overpriced or not staged properly. That means the buyers will not make an offer. The real estate agents will joke about the functional obsolescence.

The secret about the real estate market is that a properly priced property will attract buyer showings. A correct price and proper staging will cause a buyer to write an offer on the house. It's that simple! Conversely, if the property is not being shown, it's not aggressively priced.

I have a property listed for sale at 250k. The last two comps are 245k. The seller vacated the house, but failed to clean the carpets. The interior of the house is white with a different color accent wall in four rooms. The seller refuses to paint the walls, steam clean the carpets, or lower the price. Oh, by the way, this client can't understand why the house has not sold.

A wise man once said, "When the student is ready the teacher will appear." For over 30 years I have suggested sellers begin by pricing their house 'below appraisal.' Then, slowly reduce the price until buyers appear & an acceptable offer is negotiated. This is a very simple solution to selling a property. Unfortunately, it's not easy due to human emotions that are involved.

It is a buyer's market, and they have zero tolerance for improper pricing, old carpeting, and outlandish colors. Beauty is in the eye of the beholder. Pricing is based on supply and demand. The definition of insanity is to keep the old price, the old paint, and the old carpeting, and hope for a different buyer.

by Paul Pastore