Be the Fresh Ginger Beef
I often get asked about the importance of pricing your property right, so it sells in a relatively short period of time – if a seller’s not in a big rush to move, why not price it a bit high and hope the right buyer comes along eventually?
I like to address this with a little analogy:
The real estate market is like a Chinese food buffet (stay with me here!): there are lots of options from which to choose, and most of them look pretty good. However, when a chef comes out of the kitchen carrying a steaming, fresh bowl of ginger beef, everyone takes notice; even diners on their way back to their seats may turn around to check out the good stuff. Some diners have been waiting and watching for the fresh ginger beef to come out of the kitchen, refusing to leave without it! Meanwhile, those sad looking spring rolls that have been under the heat lamp for half an hour will just get less and less attention as time goes by. No one’s taking them, so there must be something wrong with them.
And so it is with the housing market. The first wave of interest is the biggest and best opportunity to find your buyer. Buyers are waiting for the fresh “meat” to come out of the kitchen. If a property is priced well the sellers can take advantage of that attention and bring an offer in earlier than later. The longer a property sits on MLS, the less ‘fresh’ it looks, and the more likely it is that potential buyers will assume something is wrong with it. It’s just the way buyers think, especially in a market like Calgary’s, where business is often booming.
While the days of homes selling on the same day they’re listed may be behind us (for now), a property that’s been listed for a long time is just going to appear stale. You’re much better off to list according to comparables in your area, rather than shooting high to see what you can get.
For a free, no obligation evaluation of your home, please contact me today!
Tags: calgary housing market, calgary real estate, Calgary realtor, Chinese buffet, Ginger Beef, Real estate is like ginger beef
