Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Overpriced Real Estate

filed under: For Sellers posted on July 6th, 2015

Overpriced Cincinnati real estateOverpriced real estate?

In the local real estate makrket quite often sellers stop listening and begin thinking about the next agent they’ll contact after they hear about the pricing strategy for their property. You can see it in their facial expressions-polite but not really digesting that it’s not my personal opinion about selling prices- it’s real time information coming from the MLS (Multiple Listing System).  However some sellers prefer to work with an agent who tells them what they want to hear and, unfortunately, many agents will take a listing at any price and hope for the best.

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When an agent presents a value for your home or condo think of it as a suggestion based on facts.  In reality a homeowner can ask whatever they want for their property and the market -buyers- will either agree or disagree with the seller’s price.

The data from MLS doesn’t lie- properties that are priced correctly normally sell quickly in today’s real estate market. The question sellers have to ask themselves is “how long do they want their property on the market and how soon before they are willing to sign a price reduction?”.  Personally when we sold our home last year even I struggled between data and emotions-thankfully because I knew I was an “emotional buyer” and “hired” a valued co-worker to assist me- the property was listed at the right price (data backed) and sold within 3 days.

Getting the right price is part data and part emotion so if you need help pricing your home or condo in the greater Cincinnati area-Call/Txt

 

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