Asking for less than you want in San Antonio

Buying & Selling Real Estate
6yFollow

Asking for less than you want in San Antonio

Joe S.Pro Member
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes

So I have a big nice house that I’m almost ready to put on the market in the next couple of days. What I wanted to ask and want my realtor suggested I ask is about 14 K difference. I thought asking a little bit more and except a little bit less normal practice. My realtor said right now sellers are asking for a little bit less than what they really want and the buyers are bidding it up. Does anyone have any insight into this kind of pricing method?

0Reply
11 views

Most Popular Reply

Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
6y

I think in general the lower asking price benefits agents, but not necessarily sellers. It creates a quick sale, and most agents like to brag about their low days on market. I've challenged a lot of agents that use this strategy, and none have ever been able to provide data that shows it leads to better pricing. It certainly speeds up the sale, but it doesn't sound like that's your priority. In this market, I would price it where I wanted. There are more buyers than sellers in most parts of town today, so it's the best time to get aggressive with your asking price.

[email protected]979-218-2286
Joseph Cacciapaglia powered by Morty
WebsiteView Page
4Reply
See this reply in the discussion

5 Replies

Jump to latestLatest
  • Aaron K.
    Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
    6y

    @Joe S. depends on price point but unless you are really stretching to get what you want it probably isn't the best idea.  Even in more expensive markets bidding something up $14k isn't super common unless you're dealing with $500k+ homes.  Pricing strategy on sales for me is always ask for more than you think you deserve by a percent or 2 then lower price quickly if it doesn't move/ you don't have many agent visits (4 per week or less).

    0Reply
  • Rick Pozos
    Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
    6y

    I dont try to play games. Ask what the market price is and if they like it, they will put in a full price or near full price offer. I want it sold right now. I hate to delay and pay another mortgage payment if I dont have to. It usually results in the offer coming in right about asking and within a few days. Go with the sure thing, market price.

    So what if it does NOT get bid up, you are stuck with being 12k below asking. There is no guarantee that it will get bid up. I dont know if you have noticed but there are lots of folks just sitting on the sidelines right now here in San Antonio.

    2Reply
  • Joseph CacciapagliaBusiness Member
    Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
    6y

    I think in general the lower asking price benefits agents, but not necessarily sellers. It creates a quick sale, and most agents like to brag about their low days on market. I've challenged a lot of agents that use this strategy, and none have ever been able to provide data that shows it leads to better pricing. It certainly speeds up the sale, but it doesn't sound like that's your priority. In this market, I would price it where I wanted. There are more buyers than sellers in most parts of town today, so it's the best time to get aggressive with your asking price.

    [email protected]979-218-2286
    Joseph Cacciapaglia powered by Morty
    WebsiteView Page
    4Reply
  • Stone Saathoff
    Investor · San Antonio, TX · Member since 2019 · 576 posts · 307 votes
    6y

    For San Antonio I would really suggest putting it slightly above what you'd like to sell for. Just slightly though. People will tend to shoot it down just a bit. You don't want to overprice because then your house may sit longer than necessary. Some agents have a solid strategy of putting urgency on the buyers agents and getting exactly what they list for, if your list agent has experience listing in the area your house is located I would suggest heeding their advice.

    1Reply
  • Ruben GalindoPro Member
    Investor · San Antonio, TX · Member since 2016 · 48 posts · 20 votes
    6y

    @Joe S. Did he or she send you some comps to support the price. Depending on where the house is at, the market is hot in the San Antonio area.

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free