Homeowners have faced an incredibly frustrating past few years; they’re trying to sell in a “buyers” market; if their home isn’t in mint condition and priced fairly, they can kiss the idea of selling fast goodbye. Unfortunately, many homeowners think that hiring a licensed real estate agent to sell their home is the only step they need to take, when in reality, an agent can only help facilitate the sale, they can’t make improvements to the property or lower the price without the owner’s consideration. So if you’ve been blaming your agent for your home sitting on the market, you may want to turn that finger around and point to the real problem. Sellers are responsible for keeping their home at a fair price, fixing any glaring maintenance issues and keeping the property in “show quality” at all times.

So what might you have done wrong as the homeowner if your home has sat on the market for months or even years? Here are just a few possible answers:

Price – If your home is listed too high, you might sit on the market for months without even a slight inquiry or showing. Homeowners don’t seem to understand the concept that pricing their property at a fair market value will actually send a rush of buyers through. All buyers are looking for a deal, especially in this economic climate. Some homeowners will think that it only takes that one special buyer, who has decided to fall head over heels in love with their home and is willing to pay more than it’s worth (usually paying the difference out of pocket, as a lender will refuse to finance a home for more than it’s worth). If that doesn’t sound crazy, then the next justification that many sellers use is this “if I price my Cherry Creek homes for sale over market value and I get a lowball offer, we can meet somewhere in the middle at the fair market value.” Unfortunately, neither of these tactics work, since buyers won’t even entertain the idea of looking at an overpriced home. Buyers consider their time valuable, and since there is a major inventory of properties on the market right now, they don’t even need to consider looking at yours; there are probably three just like it priced $20,000 less. Take the time to listen to your real estate agent on this. They know property values and understand the importance of pricing your property right.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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