JL's Columbia SC Real Estate Blog: Testing the Market is Always a Bad Idea

Testing the Market is Always a Bad Idea

 

Blythewood, SC Homes for Sale  From time to time when speaking with someone that is considering listing their house, I will hear people make the statement that they are going to "test the Market." I can promise you that it's not only a bad idea, but the market will test you way more than you will test it by the time all is said and done.

  The fact of the matter is that even if you do everything you are supposed to do, sometimes selling a house can be a challenge. Less in this market than in years past, but still the process does not come and go without it's own unique set of requirements for all parties involved.

 

Blythewood, SC Homes for Sale The vast majority of the time,  this test comes in the form of the listing price. Sellers hoping that if they roll the dice at a higher price then maybe they will get lucky. But at what cost? Pricing too high will at the very least severely prolong the process. Which means more time that you have to leave whenever someone wants to see the house. More time that you will have to keep the house spotless, clean, and ready to show at all times.

 But that is only the beginning. You also have to remember that until the house sells, you have to pay for the property. That means more mortgage payments on a house that you do not even want anymore. Possibly more HOA dues. You are also obligated to pay property taxes on the house until the day you close. Each day you test the market is another day you spend money on a house that you already plan to leave, and most of it will not come back to you. So if you are thinking of selling, do yourself a favor, don't test the market. Do it right from the start. You patience level and your bank account will thank you.

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JL Boney, III - Columbia, SC Realtor - Coldwell Banker Residential Real Estate

 I specialize in Columbia, SC real estate and the surrounding areas, including Blythewood, SC, Kershaw County, Fairfield County, and Lexington, SC. If you are in the market to buy or sell a home in Columbia, SC or any of the surrounding areas, I would love the opportunity to speak with to see how I can help. Thanks for reading and feel free to contact me if I can be of service to you.

Office- 803-788-1450     Cell- 803-730-9601     Email- James_Boney@Yahoo.com

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Comment balloon 7 commentsJL Boney, III • January 18 2018 07:30PM

Comments

Hey J.L. ! Keep providing good information, thanks for the post ! Wishing you the best for 2018 ! ~ Coach

Posted by Coach KC™ The Prosperitor™, Marketing • Productivity • Revenue • Development (Prosperitor LLC dba Secured Futures) 8 months ago

Great advice J.L.   The cost of "testing the market" usually comes at a higher price than any potential gain.  Thanks for the post. 

Posted by Carol Williams, "Customized Mentoring & Marketing Services" (U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business.) 8 months ago

Wise words!

Posted by Li Read, Caring expertise...knowledge for you! (Sea to Sky Premier Properties (Salt Spring)) 8 months ago

Boom!  Yes, this is the answer to every seller who wants to “test” the market. 

Posted by Susan Haughton, Susan & Mindy Team...Honesty. Integrity. Results. (Long and Foster REALTORS (703) 470-4545) 8 months ago

Knowing what to price a home at is the most important part of our job. You're absolutely correct J.L., price it too high & it will languish on the market while you keep paying money on things you really don't want to.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 months ago

J.L.- great post. Testing the market really means -I'm really not prepared to sell- or I don't want to sell until I can see how much I can get. Good things just don't often come from this. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 8 months ago

I, also, can't understand this "testing the market".  Al the data and the facts are there already.  They aren't testing, they are dreaming.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 8 months ago

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