Yeap, that’s exactly what some of our sellers are asking us after their property has only been on the market a few days or weeks.
It is a fallacy that there are very few buyers looking to buy in Big Bear. The truth is there are very few buyers in Big Bear who want to overpay. Conversely, most of the homes listed for sale today are overpriced. So buyers will just sit and wait until the properly priced properties come up.
The fact of the matter is that there are plenty of buyers looking to buy these days. But, they are very particular. They want a deal! If a property is priced as the best deal in its size and category, these buyers will show up quickly too.
What comes first, the buyer or the right price? We will always say price. Most sellers just slap a high price on their property and expect that a buyer will make them an offer that they can negotiate. In today’s market however, overpriced properties are barely getting showings let alone offers.
It is important for sellers to understand this concept.
With all of the information available online, buyers can study the market just like agents do. There are many sites like Zillow & Trulia that add to consumer knowledge. Buyers know what is going on with the properties. They can see when it sold last time, how much it sold for, how long it has been on the market, what the neighborhood and streets look like, and so on. Most will know the difference between a good deal and a bad deal, no matter what the real estate agents try to dress it up as.
Buyers today won’t be tricked into overpaying for a property. That’s so 90′s.
Tyler Wood
