REAL ESTATE NEWS (Los Angeles, CA) — Negotiation on the price of a home is a powerful tool, especially when there are multiple offers. Many listings agents try to pick a low price to interest buyers, but not so low as to freak out the seller. We see a new trend in setting prices extra low, and letting the market bid up to the price buyers are willing to pay. Sellers are often surprised that this tactic gets them top dollar for their homes. A lower asking price works so well because it attracts more buyers and more excitement. Most home buyers know that home prices sell for above asking price if the asking price is low.
California home sellers have no obligation to sell at any advertised price. There’s no legal or moral obligation to sell a home in California until the buyer and seller agree on the price and terms in writing. A lower asking price removes barriers to more buyers, creates enthusiasm for the property, compels more buyers to place offers, thus delivers an ultimately higher selling price.
Would you list your home for a dollar to raise interest? #comment
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Copyright © This free information is provided courtesy of L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. EAC22072902KT Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.