Are You a Real Estate Godzilla?

August 28th, 2008 categories: Fairfield, Ohio, Real Estate News, Real Estate Selling, West Chester, Ohio

If you were going to buy a piece of real estate in West Chester, Fairfield or Cincinnati would you pay what the seller “thinks” it worth or fair value based on ”comps” of comparable properties?

Not sure -then you may be a real estate godzilla.

Today I am going to cover ”godzilla sellers”? Take a few moments to review the list below and if answered yes to any of the questions…you’re probably on the godzilla scale.

1. Did you make a list of all the work done on the property with the price for each item-then add it all up?

2. Did you mentally add the total from question number 1 to the suggested list price?

3. Did you insist the realtor look at comparable properties outside your subdivision in order to raise your asking price?

4. Did you compare your property to others which were significantly larger or sold a long time ago (more than 5 months)?

5. In order to prove your pricing theory correct, did you put your property on the market for a higher price for a period of time?

6. Have you been “for sale” for 60 days and only had a few “showings” and no offers?

7. Did you to skip most of the items on the “to do” list -deciding not to spruce up, touch up or declutter?

8. Do you want an Open House every week?

9. Did you decide on the list price- because you need to net a certain dollar amount?

10. Do you think the previous 9 questions are not relevant to your property?

No seller focuses on becoming a “real estate godzilla” it happens as a result of a combination of circumstances.

Best advice- find the realtor with the best marketing plan. Once you have had a thorough discussion about comparable properties/ pricing- follow the agent’s recommendations for pricing, staging and open houses. Godzilla properties linger on the market forever-often selling for way below value because pricing strategy was wrong from the get-go.

Still have questions- call or email.