It seems lately, that whenever I list a home, the seller always wants to leave a wide window of bargaining room. This is a common mistake seller's make and many times, they "bargain" themselves right out of their own market.
In addition, if folks are selling within the first few years of ownership, many times they lack appropriate equity for much negotiating room in the first place. Since homes get the most activity during the first 30 days of the listing, it is crucial to price the home correctly from the start.
My listing presentations always begin with the importance of correct pricing, the true cost of selling as well as educating the seller on the process and fees charged, etc. I recently went on a listing appointment where the seller's had recently terminated with an agent after a one year listing. My first few questions whenever I go out and list a home where it has been listed previously, is in regards to what went wrong in their opinion as well as what they didn't like about the agents performance as well as their goals and expectations from me.
I was quite surprised to find out the previous agent didn't remain in contact with the seller, nor did she explain closing costs or the selling process. They were still in the dark after a whole year...wow!
It turns out in this situation, the home had been overpriced and they only had three showings during the entire year. So, these folks wasted a whole year waiting for a buyer that never came. The moral of this story is when choosing an agent, it is important to look before you leap. Make sure the agent has both experience and the know how...otherwise, you could be sitting on another lame-duck overpriced listing waiting for a buyer that never comes.
