Pricing

Price a home too high and it will stay on the market a long time that can actually
result in a lower price than had it been set properly in the beginning. Price a home
too low and part of the seller’s equity is not realized that could help the owner
when buying another home.

The amount of money that a seller needs to get out of a home is not an accurate
reflection of the value.

Obstacles to Proper Pricing:
• Incompetent agents who will accept a listing at any price
• Neighbors who mislead the seller as to how much they got for their home
• Fear of making a mistake
• Loss of perspective because the seller is emotionally involved
• Need to realize a certain amount of cash out of the sale.

Overpricing:
• Reduces sales associates activity
• Reduces marketing response
• Loses interested buyers.
• Attracts the wrong prospects
• Eliminates offers
• Helps sell the competition
• Extends the market time.

Don’t Get Caught Saying:
• “Another agent said it was worth more”
• “Our home is nicer than those houses”
• “People always offer less than asking”
• “We can always come down on price”
• “We have to get that much out of it”
• “We paid more than that for our home.”

Things that Don’t Affect Value
• What you paid for the home
• The cost to rebuild it today
• Your investment in the improvements
• Certain types of improvements.

REMEMBER: The Seller sets the price of the home but the Buyer determines the value.

I can follow up on prospects that have seen your home without them thinking you're
anxious. A homeowner calling a person who has seen their home can give the wrong
impression that may lead them to think you are desperate. The problem with a
homeowner calling a prospective buyer "to see what he thinks" is that the buyer might
get the wrong impression. You don't want to appear as though you'll take less money.
This could lead to lower cash proceeds for you.

To the contrary, it is natural for a third party like the listing agent to follow up with a
prospect. It is the responsibility of the agent to find out what kind of reaction the buyer
had to the property. This will help encourage a contract and can lead to learning about
adjustments that can be made to make the home more marketable.

Negotiation
Many homeowners who have tried to sell their own home have felt like negotiating
with potential buyers is one of the most difficult areas encountered. Without having
a third party to buffer the comments between the buyer and seller, an inordinate
amount of pressure can be placed on the seller to lower the price or offer other
concessions.

Dave & Glenda Feeken brings a wealth of experience with him; a practitioner in real
estate in Central Peninsula since 1985, a broker/co-owner from 1990 to present of
RE/MAX of the peninsula.

When you hire Dave & Glenda Feeken, you get the benefit of their knowledge and
judgment. They are eager to share their experience with clients as well as
with fellow REALTORS®."To paraphrase Will Rogers, Dave & Glenda Feeken knows what they are doing, they loves what they are doing and they believes in what they are doing."

Real estate professionals have training and experience in recognizing conscious
or unconscious “games” that buyers play to improve their position in the purchase.
Sometimes the negotiation can actually become adversarial positions can actually
develop and the agent becomes the adversary for the seller.