Price to Sell the Property

I have taken on a few properties that have previously been listed by realtors and have noticed a trend in pricing. Each property was priced much higher than market value. When investigated it seems that the realtor feels obgilated to get the highest price for the bank and that a lower price may be frowned upon by the bank.

Nothing could be farther from the truth! The realtor has one client and that is the homeowner. Their obligation is to get the home sold for what it is worth, not what they think the bank wants and certainly not what it is worth.

What the realtor should be focused on is getting an offer within 4 weeks from listing. There is no doubt that the home is going to be a short sale and that the bank is going to take less that what is owned on the mortgage.

Don't worry about what the bank will take only focus on getting a contract! You can always find comps and market trends to back up a reasonable offer so my suggestion is to shift your efforts to finding a buyer. The last time I checked buyers were not falling off trees and they have become savy with their offers and are willing to wait for a great deal.

As always your comments are welcomed