Kansas City home sellers having trouble selling their home should have a pricing strategy devised and then see that the strategy is executed. A listing agent and a home seller can have the best intentions and spend all their time considering the marketing plan for the home and the condition of the home, but a critical factor that is far too overlooked when making proper pricing decisions is not factoring in the number of "Days On Market".
The number of days it is taking homes to sell in Kansas City and Johnson County Kansas has grown higher but sellers should not become complacent with how long their home is taking to sell. Rather than stressing that it's taking homes in the area 30 days longer to sell than last year at this time, sellers should instead start looking closely at how long their home has been on the market compared to the other area homes currently on the market. Why? Because that's exactly what high production buyer's agents will be doing when advising their buyers on an appropriate offer amount. Sellers can expect homes with a lower than average days on market in the area to receive better offers than homes with higher than average days on market. If a home has been on the market 49 days but the average number of days on the market is 82, then the seller is still ahead of the game - for the time being. But if a seller sits on the pricing of their home they could quickly find themselves behind the average days on market in the area and that often comes back to haunt home sellers with the offers they ultimately receive later on their home.
Kansas City home sellers must remember that the value of their home is not determined by the seller, the listing agent, county tax records, independent appraisals, MLS comparables, the value the seller purchased the home for plus improvements and estimated appreciation, etc. The value of a home is what a ready, willing and able buyer will pay for the home. So if a home is just sitting on the market - and the home is in great condition and backed by a solid marketing plan - then the logical conclusion is that the home IS overpriced. One of the best things Kansas City home sellers can do is to devise a pricing strategy at the time the home is listed. Decide at what future intervals a price reduction should be implemented and how much of a price reduction would be appropriate.
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