Every once and a while someone comes along and thinks that they have a special little snowflake. They find reason after reason why their home should list for an exuberant amount ABOVE other similar homes in the neighborhood. Usually there is no amount of market research, data, reasoning, pleading or begging that can bring these people to their senses. Their home is worth “X” (well not really, but they think it is.) and nothing and I do mean NOTHING will convince them of anything less.
Seasoned Realtors will at this time pack their things, say, “No Thank You” and go on their merry way. Hopefully, to the next realistic seller. Those who have not had the joy of listing a home for such a client will take the much overpriced listing and will wish they could shoot themselves a few months later. Either way this type of scenario usually ends bad and sometimes worse than it started. Let me share some things for those of you who believe you actually have, “A special Snowflake.”
In most cases, 95-99% of these special snowflakes only exist in the mind of one person, the seller who fails to deal with reality. Now, Let me say, “I am not trying to be rude.” I am trying to help you deal with reality so that you do not end up losing money by living in some fantasy land for the next 6 months. Hey, we all like a good fantasy, we can get away and become that knight in shining armor or that princess who is rescued at the last minute. However, at some point we have to wake up, break out of our fantasy and go to work on Monday. Why, because that fantasy was just that..FANTASY…and we need to get back to reality so we can pay the bills.
What do you suppose happens when a seller willingly lives in this fantasy world for too long? Well, among other things their home does not sell and in many many cases they end up losing money. Sellers, there is in almost ALL cases, no reason at all why your home should be listed at some ridiculous amount above that of similar homes in your area. And yet I have seen and heard of case after case where a seller thought for whatever reason that their home was worth far far above market price in the area. As I type this up I cannot think of ONE case where those sellers actually sold their homes for the ridiculous amount they were asking…not one!
The market will and does dictate what buyers are willing to pay for a home. It is extremely important that what you initially list your home for at least be in the ball park. In fact, the initial listing price of your home is probably the MOST important factor in whether or not your home actually sells. Get that wrong and it could be a long six months. The best thing to do is not to come up with some fantasy price in your mind. Let an agent tell you what your home is worth and if that number is not to your liking wait and hope the market does not turn against you. However, if you need to sell deal with reality and not fantasy.
If you would like a free market evaluation of your home or if you are considering selling and would like some help, please call me (Shayne) @ 623-853-6644
The Price of Your Home and Special Snowflakes
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