Lisa and I recently had a wonderful Clemmons home go under contract. Without going into specifics, I'll just say that the contract price is significantly lower than what we expected. Even now, I can't quite grasp how it is selling for what it is. It's just defying the supposed data and market trends.
So why did the sellers take the offer? When I first saw the offer, it was even hard for me, as the professional, to be objective. I thought "yeah, right"! I had gotten word from another agent that an additional offer was coming, so we were confident we could wait for that one and it would be much better. The next day it came in, and it was within striking distance of the first one. What??? Then, I got a verbal offer from an out of area agent. I usually don't even listen to verbals but was thinking someone would have to throw us a bone. Guess what? It was between the first two!
My point in saying all of this is that we can analyze, strategize, and categorize all we want, but BUYERS determine value. You must work with your Realtor to determine the most beneficial market value and aggressively market, but honestly, you are still at the mercy of the market.
So why do I use a Realtor if they aren't even right???". Mr. Consumer, I hear ya I hear ya... that's a different post, but how many unrepresented sellers do you know in this market getting three offers in one week??
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