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You can't always get what you want

... by the Rolling Stones just might have something to do with selling your home in today's Charleston real estate market.

From Wikipedia, I noticed a review by Richie Unterberger.

"Much has been made of the lyrics reflecting the end of the overlong party that was the 1960s, as a snapshot of Swinging London burning out. That's a valid interpretation, but it should also be pointed out that there's also an uplifting and reassuring quality to the melody and performance. This is particularly true of the key lyrical hook, when we are reminded that we can't always get what we want, but we'll get what we need." 

I've written often that it doesn't matter what you think your home is worth, what you paid, what an appraiser said it was worth, what your real estate agent thinks your home can sell it for, what your friends, neighbors and relatives think your home is worth and most importantly, what you need to sell your home for.

The only thing that matters is what a ready, willing and able buyer is willing to pay. And that is potentially where the problem may be if you price your home too high. The problem could be that you may not get what you need.

Homes that are priced right sell. Homes that are overpriced sit on the market. And when a home sits on the market, the perception is that something is wrong with it. And that perception ultimately translates into a lower selling price.

Remember, you can't always get what you want but you have a much better chance to get what you need if you price your home right from the start.

Published Tuesday, March 18, 2008 9:35 AM by Howard Arnoff

Comments

# re: You can't always get what you want

There really is two schools of thought to your point...most buyers these days see a listing price posted and assume an immediate 5-10% haircut could be acheived.

Have you seen anything move at list price lately? I think most sellers are still listing at higher price with room for negotiation.

Tuesday, March 18, 2008 11:24 AM by JS

# re: You can't always get what you want

JS, I listed and sold a house in one day, practically unheard of in today's market and the buyer offered just slightly less than list. My seller didn't bother to counter, he priced it right so that it would sell quickly.

The real point of my post was not about leaving a little room for negotiation. There are still sellers who want to list well above market as if nothing ever changed in the housing market.

I decline to take overpriced listings with slim to no chance to sell. I got a contract last evening on a listing, the home was on the market for 60 days, the offer was 6% off and we'll counter back and probably sell it for 3 to 4% off list.

The list price was reasonable, but quite simply, when I represent a buyer in today's market, I don't think that you have to pay list price. I'm sure most other agents think along the same lines.

I don't write lowball offers either, if a buyer wants to throw out lowball offers, my suggestion is to find another agent. I'll write offers much below list but only with a realistic chance to get an agreement after negotiation.

The real problem with an overpriced listing is that if it happened to get an offer at a ridiculously high price, it isn't likely to appraise.

Tuesday, March 18, 2008 1:51 PM by Howard Arnoff
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