Selling a beach home requires a certain mindset to get the best price for your home. Glenn Phillips, CEO of Beach Homes Realty, shares four phrases that will cost you money when selling a beach home.
- “Let’s leave room for negotiations.” Intentionally setting your price higher than you need raises more questions and concerns than necessary. First, if you come across an expert negotiator buyer, they may bring the price way below what you actually want. It also raises the question of how much room to leave for negotiation. Overpriced homes often sit on the market and devalue your property. Appropriately priced houses sell quickly and create a much smoother process for everyone involved.
- “We can reduce the price later.” When you constantly reduce your price, neither you nor your agent are happy. Price cuts frustrate sellers, and sellers listing above market price frustrate agents. Additionally, buyers see the price cuts and make an offer lower than the current price because they see you lowering it. Don’t price to reduce; know your number and price to sell.
- “This is the price I need so I can…” Sellers often include expenses outside of the market, such as debt, a new purchase, etc., that have nothing to do with the home’s market price. Sellers often believe their home is appreciated more than it really is and want to get more than it’s worth. The price you need is the price to get a deal done.
- “I really don’t have to sell.” Beach property is a discretionary property that you don’t technically have to sell. However, if you’re just listing the property to see what you can get and turn down offers, you waste everyone’s time and money, including your own. Before listing, you need to decide whether you’re serious about selling your house.
When selling your beach home, these four phrases can cost you time and money. Connect with expert beach agents ready at beach-homes.com.