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Sellers what has been your experiences working with real estate agents when your property is a lower priced property in an affluent or semi-affluent town?
Clean it up spotless and it will sell really quickly.
Agents like quick sales and they like to have something to show in every price range so they don't have to turn clients away because there is nothing to show them.
My advice would be to make sure it is priced competitively with SIMILAR properties in that location. There may be a temptation to set the asking price high based on neighboring, but not comparable, properties. Anything that it is overpriced relative to its true competition will sit.
Sellers what has been your experiences working with real estate agents when your property is a lower priced property in an affluent or semi-affluent town?
By lower priced property, do you mean just the price is low or the actual value is low? Many low-valued listings in my town (which is affluent) sit on the market for a while because they're still pricey and people want more for their money. Eventually somebody picks it up -- usually an investor who tears it down to build a new one, but occasionally somebody who sees the potential in it and can see the deal.
There are many reasons why some properties could be priced low in otherwise affluent communities.
Lousy location and in some cases this comes down to the block and position within the block
Poorly maintained
Outdated/obsolete style
Substantially smaller
Awkward floor plan
Different school district than the majority of properties in the same area
Inferior or smaller lot
It's not going to attract the same pool of buyers that are looking for higher priced homes.
Half the fun is figuring out who the target buyer is and marketing to them. No amount of marketing can overcome a bad price.
There are many reasons why some properties could be priced low in otherwise affluent communities.
Lousy location and in some cases this comes down to the block and position within the block
Poorly maintained
Outdated/obsolete style
Substantially smaller
Awkward floor plan
Different school district than the majority of properties in the same area
Inferior or smaller lot
It's not going to attract the same pool of buyers that are looking for higher priced homes.
Half the fun is figuring out who the target buyer is and marketing to them. No amount of marketing can overcome a bad price.
Surprised this thread got this far without a defensive real estate agent agent crashing the party.
Not a seller but I would think your property would be snapped up by someone who works in the affluent town but normally couldnt afford to live there.
Makes sense.
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