One of the biggest problems sellers in today’s Tampa real estate market face is pricing.  Many sellers don’t see any harm in asking a higher price when first listing their home.  “I can always reduce it later” seems to be the most common response.  The problem is that such a price is based on what that individuals desires to get for the home, rather than what the market has determined the actual price should be.  The end result will be price reduction after price reduction, and a waste of valuable time on the market.

Today’s buyers are well educated about the market.  The state of real estate is constantly in the news, and it’s impossible to avoid.  Buyers out in the market are justifiably nervous, very cost-conscious, and do much more research on a potential purchase than they would have a few years ago.  High prices are often a signal for unrealistic or unmotivated sellers, and buyers in today’s market don’t want to waste their time on such a situation.  There is no longer the urgency to buy Tampa real estate that there was a few years ago, which means that potential home owners will not overpay.

“The savvy buyer has done research is very aware and cautious when they see a property on the market for an extended period of time,” says Dave Traynor of Smith & Associates Real Estate.  “They will also know that the extended time on the market is a result of the home being over priced.”

If you’re going to be listing your home for sale, make the most of the market from the beginning.  Price competitively.  The old strategy of padding the list price of a home to leave room for negotiating no longer works.  The home should look its best, and be priced competitively in order to catch a buyer’s eye and entice them enough to make an offer. “Many agents have a list of buyers anxiously waiting for new homes to hit the market,” says Traynor.  “When they are priced right initially, those homes have been seen to go under contract within the first week.”  So, take the best advantage of the Tampa real estate market possible, and get your home priced right from the start.

Want a professional analysis of what the right price is for your home?  We would be happy to provide a free market analysis for you.  Please request one here.

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