057 – The Market Doesn’t Give A Sh!t

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When it comes to pricing your home, the market really, truly doesn’t give a shit about two things that are probably really important to you as a seller:

  1. What you owe on the house
  2. How much cash you expect to get out of the sale (for whatever reason)

We opened this episode chatting about the state of the market in Houston, and why it’s not going down as many people believe.  In fact, recent sales figures for the overall market seem to indicate that the market is still strong, with inventory still below the level of what is considered a “balanced” market.  That means if your house isn’t selling, it’s not because of a poor marketing job, it’s probably because it’s priced too high for the location and condition.

Many people have an idea on their heads about how much money they expect to put in their pockets after their home is sold.  Typically, this number is influenced by how much they owe on their home, how much money they need for their next house, or just flat out what the homeowner thinks it’s worth.

The reality is your buyer doesn’t care.  Your buyer doesn’t care how much your mortgage is, or how much money you need for your next down payment, or what you think you should get.  All the buyer really and truly cares about is whether or not they are willing to pay what you’re asking.  If not, your house isn’t going to sell, no matter how much righteous indignation you feel.

Your agent’s job is to be an expert in the process of selling the home; To keep you out of trouble; To make sure all of the moving pieces fall into the right places at the right time; And yes, to make sure your home sells for as close to the contract price as possible.

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