Pricing The Home Correctly Is Everything In Havertown, Delaware County

One of the most difficult tasks of the Realtor in Delaware County taking a new listing is convincing the seller to price their home moderately in this difficult market. I don't know how many times we have heard
" Our home is much nicer than our neighbors that is on the market so we want $10,000 more".

The biggest mistake sellers make is trying to price their home on what all the other homes on the market are trying to get instead of focusing on the homes that actually went to settlement in the last six months. That tells the story of what the homes are actually worth to the public. They need to take the actual settlement price and add say 10% to allow for the buyer dropping down off the asking price. Most buyers in this market do not offer asking price unless either it was priced below market value for a quick sale or it is absolutely perfect and they are in a multiple bid situation. Another item on the settlement sheet that sellers have trouble dealing with is in some areas buyers are getting a seller's assist to help with the settlement costs. It might be as high as 6% of the contract price. That only shows up on the Realtors sites and the public is not aware of it. So they might see a settlement price of $200,000 but missed the small notation there was a $12,000 concession meaning the buyer got that to help with settlement cost.

Here is a situation that we ran into last week. We took one of our clients to see a home that was priced low in Havertown, Delaware County. It was a single home that needed everything. The asking price was around $20,000 lower than the average for a fixer upper. It was an estate sale so the family wanted it sold quickly. When we went to our appointment to see the home there was a crowd of 6 people waiting to get in the home for a scheduled open house that the listing realtor never showed up for. We showed the home to our client and then let the people in for a quick look. While they were looking four more people showed up to see it. We finally got them all out of the home and continued on our showing schedule. Our client expressed interest in the home. Another agent in our office saw our car there and said he took a client through also and when he called the listing agent she said she already had 8 offers. Another agent in our office also had a client put an offer in and his client's offer was accepted above the asking price close to the normal price for that typed of home. So in this scenario it worked for the seller. The home was on the market only 14 days and they got close to the average settlement price. If they had put it up for say $20,000 above the normal price it probably would have sat on the market much longer and the offer price would still have been down in the average settlement price.

So let me repeat, Pricing correctly is Everything in this market in Havertown, Delaware County