Do You Think Like Dirty Harry?

Dirty Harry and Boulder sellers often think alike.  Overlooking all logical pricing rational the BIG question they ask is: “Do I feel lucky?”

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Feeling Lucky?

Taking a gamble on a listing price because a seller is “feeling lucky” is a strong warning sign to me because the ultimate outcome of this pricing strategy is usually a hugely disappointed and emotional seller with a devastated bottom line.

Honeymoon is Over

Unfortunately, the end result of this strategy is all too predictable.  The all important honeymoon period on a new listing is the first few weeks when a home is freshly listed.  The buyers are attracted like bees to honey.  But with an overpriced listing this prime marketing opportunity is crippled.  Buyers will come to see the house but they’ll balk at the listing price, even if they love the home.  With the price too far off the mark, buyers will assume the seller won’t be reasonable during negotiations and walk away.  They won’t even put in an offer to test the water.  I’ve seen it time and time again.

No Emotional Attachment

A few months later the seller adjusts the asking price back down to reality.  But it’s too late.  Buyers will look at the house but instead of coming with an open heart they are skeptical due to the high number of days on the market and wonder what is wrong with it. They don’t allow themselves to fall in love with the home and covet it much less pay a premium for it because too many others have already passed on it.

Time Moves On

As the months wear on the seller’s confidence fades, eventually dropping the asking price, sometimes several times.  Summer turns into fall and the seller will eventually get a low ball offer that they feel compelled to respond to because it’s the only offer on the table.  Eventually accepting a far flower price than the market would have brought in the weeks of the all-important honeymoon period.

I’ve been tracking real estate in Boulder County for ten years.  I understand the trends and which pricing strategies to implement during specific stages of these cycles. If you’d like to talk to me about listing your home for sale please give me a call at 303-579-1617.

You can read more about pricing strategies here.

I am a Boulder County real estate specialist. Over the past three years, I have earned the distinction of being named a 5280 Five Star Realtor. This puts me in the top 7% of all Realtors in the Denver Metro Area for customer satisfaction. If you would like to schedule a buyer or seller meeting with me, please feel free to call me at 303-579-1617 or contact me by email.

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