The cry of many sellers today is, “Buy my house – please!” They are unable to find buyers in many markets around the country, where sales are slow or non-existent at almost any price. Across the board, sellers today are struggling with falling home prices, low or no equity, and buyers who are expecting to get great deals when they buy homes today. Meanwhile, sellers want seemingly the exact opposite – a need to sell their house fast.
Some sellers say they want to sell fast, but are not really willing to lower their price. They start with a price that is too high, and wait for the right buyer to come along. That day may never come in a market where prices continue to fall weekly.
Other sellers are willing to negotiate, but are still not realistic about what it might take in price concessions to move their home. They are perhaps pricing their home with a little room to move down on price, but the marketplace may expect more in the way of a price drop in order to sell the house fast.
Sellers who sell their home successfully know what it takes to sell houses in this market – low prices. Buyers are now conditioned to know this is a buyer’s market, and low prices are available. If one seller won’t negotiate, perhaps the next one will. And they move on. As a result, any smart seller who wants to get their house sold, will agree to change their terms. This doesn’t mean sellers need to take huge haircuts of twenty percent, but at least understanding what other homes are selling for can help them be realistic when a buyer presents an offer. A professional real estate agent can provide comparable sales to any seller, to help get a snapshot of what homes are going for in the market.
Sellers who sincerely want to sell their home know they have to be willing to compromise. These sellers will be successful, instead of sitting on a home no one wants.