Buyer psychology if listing price is too high?

I put my house on the market (central CT) this weekend. My realtor adamantly thought we should list at $389K (and made good arguments for it), so we did, but I thought it might be too high (Zillow was bringing it in $25K less).

We got a good crop for the OH, and plenty more on the way. She said one person so far plans to make an offer. But I guess I’m just worried, given all the reports of the market being a feeding frenzy right now, that that’s a lackluster result (because everything seems to get multiple offers waiving contingencies and stuff like that).

I’d absolutely accept a lower offer, but I guess I’m just wondering whether buyers (in this market) are likely to make lower offers at all given how competitive they assume things are…or if they’ll just walk away without offering at all.

Also, how quickly do people drop the price these days if the place doesn’t sell immediately? (Without it being obvious that you’re desperate, which causes people to start to lowball you).

I tend to be a worrywart, so maybe I’m just overblowing this, but I hate this process and just want it over with as soon as possible!

submitted by /u/petitfourcast
[link] [comments]

I put my house on the market (central CT) this weekend. My realtor adamantly thought we should list at $389K (and made good arguments for it), so we did, but I thought it might be too high (Zillow was bringing it in $25K less). We got a good crop for the OH, and plenty more on the way. She said one person so far plans to make an offer. But I guess I’m just worried, given all the reports of the market being a feeding frenzy right now, that that’s a lackluster result (because everything seems to get multiple offers waiving contingencies and stuff like that). I’d absolutely accept a lower offer, but I guess I’m just wondering whether buyers (in this market) are likely to make lower offers at all given how competitive they assume things are…or if they’ll just walk away without offering at all. Also, how quickly do people drop the price these days if the place doesn’t sell immediately? (Without it being obvious that you’re desperate, which causes people to start to lowball you). I tend to be a worrywart, so maybe I’m just overblowing this, but I hate this process and just want it over with as soon as possible! submitted by /u/petitfourcast [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!