Why the Listed Price of a Property Isn’t the Final Sale Price

If you’re a first-time homebuyer, you might be tempted to avoid properties listed that are a bit above your budget. But in most markets, you’ll find that the listed price of properties is far from the final sale price. In fact, fewer homebuyers these days end up paying the listed price of a property, and even fewer end up having to pay more. 

 

What this means is that, as a homebuyer, you should be more than willing to make inquiries for properties that you initially thought was way out of your price range. More importantly, that property that you think is priced just right could very well be had for a lot lower. 

What Should I Look Out for as a Homebuyer?

Of course, you can’t just go haggling blindly. There’s a science behind it. 

 

For example, if you’re scouting real estate properties in a particular area, you might want to do your homework first. In particular, taking a close look at the final sale prices of comparable homes within the same area will give you a better clue as to whether or not the listed price of a particular property you’re eyeing has wiggle room or not. 

 

By understanding the relationship between the listed price and the final sale price of properties in the market that you’re looking at, you increase the likelihood of you ending up with a deal that you can walk away from happy and contented. 

How Sellers Can Position Their Properties Better

Does this “new” reality in real estate prices mean bad for home sellers? Not exactly. Part of the reason why there’s an increase in discounted real estate properties is that there are so many home sellers that price their properties higher than they realistically should. The resulting discounting of their properties then becomes inevitable. 

 

Far too many home sellers fall into their own trappings and biases. They believe that just because they paid for a certain amount for their properties, including purchase, renovations, and upgrades, that a home buyer should pay just as much as well. Some also believe that just because their neighbor got a certain amount they feel that their home should sell for just as much as well, if not more. But that’s not how things work when dealing with real estate properties. 

 

The reality is that the final sales price of your property is largely determined by current market conditions — not how they were years ago when you bought your property, and certainly not when your neighbor found a buyer for their property. 

 

Factors such as the most recent comparable sales prices, mortgage rates, and the state of the local economy all affect your property’s final sales price. 

How Can I Sell My House Fast?

Now, for home sellers who want to sell their house fast, there are other things that you can do as well. For starters, according to research, listing your house with a precise number (listing it as $201,750 instead of $200,000) increases the likelihood of it receiving a higher offer. This may have something to do with giving off the impression that you did your research and your property is priced “right” compared to others. 

 

Of course, the home selling process is long and tedious. It’s not just a two-step process where you put a property up for sale and find a buyer. Instead, it’s a process with multiple steps that could fall through in the end for a number of reasons. 

 

For a sure-fire sale, heading to a cash buyer is a good option. 

 

In as little time as a month, you could find yourself free of any and all financial obligations related to your real estate property and with a reasonable amount to show for it. 

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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
YASMINA VASQUEZ
YASMINA VASQUEZ
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Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
Vishrut Patel
Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
Chelsea Grant
15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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