That seems like a silly question, doesn't it? But selling the neighbor's house is exactly what a lot of home sellers actually do.
It can happen in several ways, the most common of which is by over pricing.
Three things usually happen when a home is overpriced:
- The people who would buy it at true market value never see it.
- The people who can and would pay that higher price pass it by.
- The house goes stale on the market and eventually sells for LESS than market value.
In the event that someone does make an offer at the high price, it won't appraise.
So how does that sell your neighbor's home?
Agents use over priced homes for comparison, to make their correctly priced homes appear more attractive. This is the reason why some over priced homes get a lot of showings, but no offers.
You can also sell your neighbor's house by making it difficult to get an appointment.
When someone wants to live in your area, they'll choose from the available homes. If yours isn't available, they'll pass it by.
Try never to limit the days of the week or the hours during which your home can be shown, and always say yes to same-day showings if you possibly can.
And, you can sell your neighbor's home by staying in your house when it's shown.
Most buyers tend to feel uncomfortable when the homeowner is present, so they don't take the time to look in the closets, turn on the faucets, or sit down and think about how their own furniture would fit. Instead, they walk through quickly and get out.
Those who aren't uncomfortable will use the opportunity to quiz you – and perhaps learn something from you that will strengthen their own bargaining position should they decide to make an offer.
It is always in your best interest to take your family members (including pets) and leave during a showing.
What's the best price for your home?
True market value! To determine this, we prepare a comprehensive market analysis, comparing your home and its amenities to similar homes that have sold recently. We use only homes in your area or very similar areas, and compare yours to others of approximately the same size.
Using the most recent sales is important, because our market is in constant flux.
After that, we compare your home to others currently for sale, and show you examples of homes that expired off the market unsold.
Never guess about the price of your home. Instead, call a Coldwell Banker Prime Properties realtor.
When you're ready to consider selling, they will prepare a market analysis for you. Then you can decide whether you want to sell based on the price you really can expect a buyer to pay in today's market.