I spent this morning helping my parents with some last-minute interior painting, since they are going to be listing their home of 15 years “for sale” on Monday. As my dad and talked about the current value and his home pricing strategy, we got into a lively discussion over what typical home-buyers expect when they go looking for a new place.
My dad stated that the minimum price he’ll take for the house is $200k. Conveniently, that’s the exact price that the realtor is advising that he list the house for. My dad, on the other hand, wants to list the house at $220k so that he can negotiate with the buyers a bit. His opinion is that almost all buyers go into a housing purchase with the expectation that the homeowner will come down a tad, and they’ll want the ability to negotiate a little bit.
What do you think he should he do? Do you think that most buyers expect to negotiate a price down, no matter the asking price? Is it a good idea to price it where you want to end up, and then have to be firm when offers come in?
Thanks for your valuable advice!