Chasing the Market
Do you remember when we were kids and we’d play tag?
We’d chase each other around, and if you were “it” you’d try to look for an easy mark. The kid who wasn’t quite as fast as you, who may not have been paying attention that you were after them, or just happened to be right there.
It was a convenient and easy way out of being “it”. You never went after the clever, super fast kid, because what was the point? You might end up chasing them all over the place and get nowhere doing it. It ain’t gonna happen!
Now let’s fast forward to today, and see how a game of tag can translate in to the game of real estate.
If you are buying a home, you are more likely to go find the home that’s the easy mark. It looks good, has an attractive price, and is easy to buy. And if you can come to an agreed selling price…Tag!!!!
Are you going to go chase the “clever” seller who has priced their home 20% above market value? Probably not. You just might end up chasing them all over the place and get nowhere doing it.
Hmmm, does this sound familiar?
If you are a Seller, which would you rather be?
Do you want to be the person whose home is priced right, or the person who is always priced too high, no matter what the market is doing? If it is in a declining market, like we are experiencing here in Vernon at the moment, that means the seller could be chasing the market downwards. They will find themselves always priced too high, and sitting unsold on the market 365 days from now, when everyone else around them has sold.
Buyers aren’t going to chase in this market.
There are enough homes available for sale that they will just move on to the next one, and not worry about how clever a seller is.
So you see, in this game, you actually do want to be “it”
As your real estate professional, I know the rules to this game, and know which homes are ready to be tagged, or how to make yours tag-worthy.
Give me a call and let’s get our game faces on 🙂
Photo credit pseudoplacebo on Flickr