There is no easy way to communicate this without making you raise an eyebrow. Listen to your agent about the CURRENT MARKET VALUE of your home. I know you love your home or you wouldn’t have bought it in the first place.
Most homeowners find it difficult to emotionally detach themselves from their home and think of it as property. Once you are able to remove yourself from this mindset, it will help you price your home with the current market value and not overprice it.
Look at the current value and try to be reasonable when discussing the listing price with your agent. If you don’t price your property correctly when the home is first listed, you will be constantly chasing a downward spiral and your home will sit on the market with very little foot traffic.
Time, as in “time on market”, is not on your side. Every buyer wants to know “how long has this home been on the market?” Why? Because if the home has been on the market for an extended period, the buyer feels that there is more room to negotiate. Also, some buyers may feel that something is wrong with the home when it has been on the market for an extended period of time.
If your home is listed on the market at the wrong price, even the best real estate agent in the country with the most aggressive marketing plan will not be able to sell your home.
