From Illinois Association of Realtors Convention speaker and agent trainer Kim Daugherty presented these market truths in his session "Make Your Listings Sell."
1. Buyers buy after shopping around and they will be comparing your property to others currently on the market.
2. Sellers control the pricing and salability of their homes but buyers control the VALUE. A property is worth what the market will pay.
3. If a property sits on the market for more than a few weeks it gets shop worn (like a stale donut.) Price it right in the beginning while it is fresh and buyer interest is at its peak.
4. Most properties must be sold three times — to real estate agents with buyers, to the buyers themselves and then to the lenders who will loan the money.
5. What it means if there are no showings — agents don’t see your offering as worthy of showing to their buyers or buyers aren’t interested enough to look. If there are no offers, buyers don’t see enough value to even negotiate or try to buy.
6. Overpriced properties actually help well-priced properties sell.
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