So, if you're lookin to list your property and have a certain price in mind (which may be above market value), the one thing you need to understand is the buyer's thought process.
Now, even though our ultimate goal is to sell the property, our short term goal is to bring people into the property to show.
However, a buyer's decision to see a properrty goes through a thought process before deciding to see it.
First is price.
If your property is higher than market value, and buyers are at a certain budget, you'll lose many qualified buyer just because they wont even see your property.
Second is specs.
Specs is a very broad range from space, how many bedrooms, age of building and other features. Over here, the buyer will evaluate to see if the property meets all their needs, as well as it ensures value.
Third are photos and multimedia.
So, you can see, even if you have the nicest photos and the coolest virtual tour, people may not even see these because it doesn't meet their first stage of their thought process meeting their budget.
This, when they go through the entire thought process, is when they decide if they want to see the property or not. IN THAT ORDER. This thought process literally takes seconds to determine whether they want to see your property or not.
Now a property will eventually sell at market value, whrther its two weeks or 90 days. The difference is, when your property is sitting on the market for 90 days, you don't get the same control as you would if you were to get an offer within the first 2 weeks.
For me, control is a very important thing to have during the real estate process, but its very hard to have control if your property is sitting on the market.
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