Three Reasons Why Kansas City Homes Fail to Sell - Part 3
Price
Overpricing a Kansas City home is the number one reason a home fails to sell. Correct pricing will enable you to avoid most issues of condition and location.
Yet, if Kansas City Buyer’s can’t find your home online, price will mean nothing.
With that in mind, ask yourself the following questions:
Is my Kansas City home “positioned” correctly in this market/in my subdivision? Based on your floorplan, upgrades, level of finish, all homes are not created equally. Is your agent accounting for these issues?
Are my terms of sale and incentives competitive? Am I delivering enough of an incentive? As stated in Part 1, OVERWHELMING MAJORITY of agents are part-time; if you’re offering less incentive, they may be suggesting other homes to their clients. Not ethical? Perhaps....Realistic, probably.
Have market conditions changed since I originally placed my home for sale? Foreclosures, new listings, sales....What’s different that can help/hurt my efforts?
Has there been a recent change in interest rates?
And the Big Daddy, am I considering the psychology of pricing right from day 1?
The psychology of pricing right? Huh?
The Kansas City Buyer’s lender will use an appraiser to determine fair market value as a part of the underwriting process. If the price of your home is outside of the appraisal price range, your home will not be sold through that Lender, and if the Buyer is using and FHA product, that appraisal will stay with that property for 6 months.
Kansas City Appraisers adhere to strict guidelines regarding valuation, and place no emotion in their valuation process. You may have all of the bells and whistles, 2 inch wood plantation blinds, beautiful in ground pool, epoxy floored garage, wine chiller in kitchen...upgraded carpet, and so forth...so what?
as Detective Joe Friday stated, “Just the facts, Ma’am.”
Personal property and over-improvement add little value to your home.
How did the conversation regarding “Saturation Rates” take place? What decisions did you make afterward?
There are exceptions. Call me and we’ll talk.
If the home is the nicest in the area, does that mean it’s worth more than the average price for a similar home?
NO.
Please hear me....If your home is priced too high for the Buyer’s Lender to approve via an appraisal, no sale.
If your home didn’t receive the traffic required to sell, know that RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?
Three Reasons Why Kansas City Homes Fail to Sell - Part 3
Price
Overpricing a Kansas City home is the number one reason a home fails to sell. Correct pricing will enable you to avoid most issues of condition and location.
Yet, if Kansas City Buyer’s can’t find your home online, price will mean nothing.
With that in mind, ask yourself the following questions:
Is my Kansas City home “positioned” correctly in this market/in my subdivision? Based on your floorplan, upgrades, level of finish, all homes are not created equally. Is your agent accounting for these issues?
Are my terms of sale and incentives competitive? Am I delivering enough of an incentive? As stated in Part 1, OVERWHELMING MAJORITY of agents are part-time; if you’re offering less incentive, they may be suggesting other homes to their clients. Not ethical? Perhaps....Realistic, probably.
Have market conditions changed since I originally placed my home for sale? Foreclosures, new listings, sales....What’s different that can help/hurt my efforts?
Has there been a recent change in interest rates?
And the Big Daddy, am I considering the psychology of pricing right from day 1?
The psychology of pricing right? Huh?
The Kansas City Buyer’s lender will use an appraiser to determine fair market value as a part of the underwriting process. If the price of your home is outside of the appraisal price range, your home will not be sold through that Lender, and if the Buyer is using and FHA product, that appraisal will stay with that property for 6 months.
Kansas City Appraisers adhere to strict guidelines regarding valuation, and place no emotion in their valuation process. You may have all of the bells and whistles, 2 inch wood plantation blinds, beautiful in ground pool, epoxy floored garage, wine chiller in kitchen...upgraded carpet, and so forth...so what?
as Detective Joe Friday stated, “Just the facts, Ma’am.”
Personal property and over-improvement add little value to your home.
How did the conversation regarding “Saturation Rates” take place? What decisions did you make afterward?
There are exceptions. Call me and we’ll talk.
If the home is the nicest in the area, does that mean it’s worth more than the average price for a similar home?
NO.
Please hear me....If your home is priced too high for the Buyer’s Lender to approve via an appraisal, no sale.
If your home didn’t receive the traffic required to sell, know that RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?
Let us know what you think or add to our blog by writing a comment.
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