When working with my buyers, I am never surprised to hear their concerns when I present them with an overpriced property. Most times, buyers will not bother when this happens.
Don’t get me wrong, I would never encourage an overpriced property, but there is always a reason why a property if over priced. It may be for reasons one can’t see on paper or pictures. Or it can be just that, an inflated number. But why not find out why?
To avoid buyers from being turned off by an overpriced home which they would otherwise love, I will do the leg work before presenting it.
I start with Brokers Open. Here I have the listing agent face to face excited to showcase their new listing, while pointing out every single detail about the property. If it is over priced, not only will I hear the agent justify the price, but I will also hear the other visiting agents opinions and chatter about the property while walking through it. This to me is valuable information which I can bring back to my buyers.
I recently came across a great article referring to this very common issue. Things to consider when presented with an overpriced home you like. It’s a good read!
Have a great week!