Profile picture for ZooZooZoo

Will any potential buyer automatically expect to get 10% off any listing price?

I want to sell my home fast.  I realize that a key to doing this is pricing it LOWER than recently SOLD comps, however, if I price it this aggressively, are any potential buyers STILL going to automatically expect to get at least 10% off of my initial competitively low listing price?  If I want to sell fast, is is okay to leave myself with no room for cushion?
  • February 28 2011 - Columbus
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Answers (5)

Profile picture for Marcin Talaga

Zoo,

Listing the home lower than the competition will probably get you more showings and interest, which could definitely help sell your home faster.  You don't have to leave a lot of wiggle room in the price.  You can list low, and stick to as close to the price as you want.  When it comes time for someone to make an offer, their agent will let them know the home is priced very well.  If they come in 10% lower, good for them.  You don't have to take it.  You counter with a price you are comfortable with and that's that.   

Marcin

  • February 28 2011
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Profile picture for Cambridge Agent
I have to say it depends on the price of the home and the market your are selling in.   There is no set 10% off haggle system.  The Sellers Agent should have a  6 - 8 comparitive properties to justify the price, they should understand the current absorbtion rates for your area  ( micro area if you are in a "neighborhood") and be ready to negoiate based on this information.

Setting the proper list price is important. Set it too high and people will over look your property, set it too low and people will think your property is stimatized. Price your property correctly and the buyers will come. 
  • February 28 2011
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Hi Zoo,
Yes they probably will make offers lower then your asking price, just because it's been done that way so often. However, if the buyer has a good Buyer Rep, they should be told that the asking price is more then fair and to be prepared to pay the asking price. If they offer low, just come back with the asking price and tell them the reason( or more properly) have your listing agent do it for you.
  • February 28 2011
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Probably!  However, that doesn't mean he/she will and if there are good Realtors involved, they should be able to educate the prospect.
  • February 28 2011
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ZooZooZoo - the short answer is no - if you price your home aggressively, which is the best strategy, you will generate the most offers.  From the offer your agent should then negotiate the best for you. You may want to leave a few thousand room since a buyer may want you to pay some closing costs.

Hope that helps.
Wytana
  • February 28 2011
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