Buying a home should be exciting and full of “This is a dream come true” moments. Sometimes, the unruly myths that get spread about the home buying experience cloud those special moments. The second myth in this series of seven is in a whole different area than myth #1 “Working directly with the listing agent will get the buyer a better deal…” but still ties into the importance of having an experienced Realtor®.
Myth #2: Buyers should never offer full price…Every real estate market is different, as is every sellers approach to pricing. It is nearly impossible to have a strategy for pricing and negotiating with this ever-changing market. Many times, when sellers put their property on the market they will price their home right at or just below the market value. This is a great way to get many buyers interested. When buyers ask too far under the market value, sellers will not budge. In this circumstance, the seller will probably have accepted an offer before that lowballing buyer finds a new home.
In some markets a seller may price their home over the market value and wait. In this scenario a buyer might overpay for the home. This is a great reason why your experienced Realtor® should be involved in the pricing and negotiating process.
If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!