About five years ago I bought a home with a realtor for $226k, their opinion was that the home was under priced, the listing agent was inexperienced in the area, and should’ve been listed at $250k, so I thought it was good buy. Fast forward to now, I’m with the same realtor, and the feedback I got was to list at $270k, and that it would sell in no time.
Fast forward to now, we’re at $250k (and about to move to $245k) and over two months down the road. Our market isn’t especially hot (more of a suburb to an area that is). We’ve had three offers:
1) $235k (at this point we were listing at $260k, countered $252k, buyer walked, might’ve been financing related)
2) $245k (Listing at $250k at this point. During inspection, buyer requested a whole new HVAC unit or lower to $235k because it’s ~10 years old, nothing wrong with it though. Countered that we would not buy them a new HVAC, offered 2 year warranty with HVAC coverage, buyer walked)
3) $240k (Listing at $250k at this point. Countered $245k at advice of agent, buyer walked)
I’ve never sold a house before so I have no idea if this is typical or not and if I’m just being too hopeful, but at the very least, it’s not the $270k and quick sale they thought we would get. When we first listed, we were getting feedback on every single showing, but after about two weeks, we maybe get feedback (or at least me anyway) for one in every ten visits. Anyway, my contract is up in a few weeks and I’m considering moving on to some other listing agent. Did we screw ourselves by listing that high at the start? Any agents out there that can share their perspective? At this point selling is just discouraging. I feel at the least, we should’ve been able to get the second offer.