Sellers are a difficult breed to understand. Why? I've written about this so many times but yet I see it over and over.
A house in Palm Beach Gardens went on the market priced near $ 4 million with a very experienced agent. And it sat...as one year became two, became three. We've got a problem, Houston.
Now this house, listed currently with another experienced agent, is still sitting and what was once a unique and beautiful home is now a white elephant. Changing agents now or ever again won't fix the problem. Let's talk value.
If, at the beginning of this saga, the owners had listened to their agent and aggressively re-positioned the house when it failed to sell, they could have walked away with hundreds if not millions more than they will now realize. How? Let's say on listing day they didn't price it near $ 4 million but instead priced it at $ 3,000,000. I would postulate that the value would have been so great it would have sold. Or to look at it another way, when it didn't sell at $ 4 mil, if the price had been cut to $ 2.5 million, they would have still been light years ahead of where they are now which is close to $ 1.75 million. And they have had the carrying costs for 3 1/2 years which drives down their net check by tens if not hundreds of thousands.
And now they have a tainted house on their hands. You see the listing history is available to all agents and the Days on Market is printed on every MLS data sheet. So this info is no secret.
Would you buy a house that had been on the market over 1,300 days? If you did, I bet you would be very, very suspicious.
Buyers market or sellers market, you have to provide value and when buyers don't see it, they don't buy. All the "special things" you did to the house mean nothing if the buyers don't see value. That is unless you have a one of kind property then the rules change.
You can see all Palm Beach Gardens homes for sale at Coastal Florida Real Estate.
