I received a call from the seller asking why he had 3 such different prices. I had looked at the comparables in the area but clearly did not understand how fast the market was going down.
The agent who gave the lowest price was able to talk not just about the comparables but what was happening in the real estate market in this area. I lost the listing but gained valuable experience.
I recently gave a price on a single family home in Winthrop. Beautiful house in a great location.
I gave a price slightly higher than the market dictated as the listing point for this house and location. Why?
For 2013 prices were up 12.5% and inventory down 10.8%. Winthrop was also number 22 on the list of 25 hottest towns in Massachusetts.
But it goes deeper. After years of assisting buyers and sellers in Winthrop, I recognize a hot commodity when I see it. There is a lack of good quality homes currently on the market.
There are buyers waiting for a home like this. Your agent knows what they are doing, especially if they want you to get a great price for your home. If you need assistance like this then make sure to hire a real estate agent.
To be clear, I am not talking about over inflating a price to gain a listing. That’s a waste of time and energy.
To prove my point these sellers are not listing their house at this time. They were hoping the price was higher. Not yet! But I am watching…
