In 2015, homes in Santa Clarita sold for an average of 9% less than the
list price. What does 9% look like? A home following this example may
list for $521K but sell for only $474K, a difference of $47,000!
A home represents a sizeable investment. For many, it may be the largest
asset they possess. Receiving a smaller amount than expected or that was
promised can be tremendously frustrating. A family may be depending on
the incoming capital for future plans. Why can there be such a big difference
between a home’s final selling price and original listing price?
While there are numerous factors which can affect a home’s sales
price, here are four of the major reasons:
A realtor overpromises: A realtor may lead a seller to believe that their home will close for
a certain amount in order to lock the homeowner into a contract. Then,
when the home fails to sell at the original list price, the seller is
told that the price must be lower due to changes in the market or for
No marketing plan: The internet has fundamentally changed the way homes are advertised and
sold. A thorough understanding and aggressive use of internet marketing
tools is a must in today’s digital landscape. When a realtor has
a weak marketing plan or no plan at all, a home’s list price can
suffer as a result.
Poor negotiation skills: Buyers are increasingly on the lookout for a good deal, discounts, and
added bonuses. When it comes time to negotiate a final price, you must
have a realtor who will go to bat for you. Make sure that the realtor
you choose can handle any issues you expect may come up.
Lack of communication: When you first meet with a realtor, it is important to create an overall
plan for the sale of your home. How should the home be shown and on what
schedule? If there are no offers, how long should a home sit on the market?
Should a price reduction be among the first strategies to consider? While
it is impossible to predict the future, questions like these can be discussed
in advance to ensure that every party is on the same page.
When choosing a realtor and reviewing their record, be sure to ask for
their original list price to sale price ratio. This can give you valuable
information as to the result you may expect when working with a realtor.
Additionally, be sure that you are given the “original” list
price and not the price after reductions or alterations.
Discover What Dippy Can Do For You!
When homes are not represented by a knowledgeable realtor, sellers risk
closing for substantially less than their original asking price. If you
are looking to
sell your home, do not hesitate to contact Santa Clarita real estate agent Dippy Chhina.
Dippy is a talented negotiator and accredited home stager who possesses
the skills to see that your home is sold at the right price. She is also
proud to be among the only realtors in Santa Clarita who offers both 3D
and virtual tours as part of a home’s comprehensive marketing plan.
Are you looking for a trusted ally in buying or selling your home? Call
Dippy Real Estate at (661) 441-3304 or request a
real estate consultation online.