Your Property is a Commodity

Many times when I go on a listing appointment I hear the property owner tell me that they need a certain amount of money for their property because they need the proceeds for their next home or some other endeavor. Regardless what the market will bear they feel strongly about receiving a set amount of money. They somehow feel that they will somehow get it because their home is extra special.

Though their home may be very special to them its the market that will set the price for it. Regardless of how much money we need, like any other commodity such as gasoline, oil, or even lobster, the market will set the price.

When you sell a stock that is trading for $100 per share you couldn't call your stockbroker and tell him to sell yours for $150 per share because you need the money. Selling real estate is the same way.