A "for sale" sign on a Berkshire property does not always mean the owner wants to SELL the home. Owner motivation has everything to do with whether or not a property is positioned in the market to sell actually SELL. The owner may want to receive a price for the home unrelated to the actual market value of the home.
To list or SELL, that is the question.
Berkshire home sellers come to the market with a host of different expectations and conditions. It may come as a surprise to readers that real estate licensees are no different. A sign on the lawn, a real estate agent and a listing in the local multiple listing service does not guarantee a sale. Many variables will affect the motivation of the Berkshire home seller and real estate agent. As in all markets the value of the item being sold is only what a willing buyer can and will pay for it. Fair market value to a buyer can be much different than what a seller has in mind.
For example, if you own 100 shares of Apple stock that is selling for $500 per share you have a portfolio valued at $50,000. You decide you must liquidate your shares because of an urgent family need. You need $60,000. You ask your broker to sell the shares at $600 per share and you place a limit of $600 per share on the sale. The stock is trading at $500 per share. You must have a price of $100 more than the market is willing to pay. You must either lower your sell price to market value or hold the stock until it rises to $600 (if the stock ever rises to that value). You may still have the urgent need for $60,000 but the stock is still worth only $50,000 in the market at this time.
The same example applies to your Berkshire home. Buyers, appraisers and banks may disagree with you about the worth of your home although you may need to receive a set amount for the sale of your home. The home can be placed on the market at what is called a "holding price" because at an unrealistic price you will end up holding the property. You can place a for sale sign in the yard, place ads in the newspaper and online, and even buy a bill board to advertise your home for sale, however none of these things will overcome a over priced listing amount in the market.
If you want to SELL your property and not "hold it", the key is learning what the real market value is at this point in time. As in the Apple stock example above you cannot force the market up to the dollar amount you want and believe your home is worth. You can either hold the stock (home) and wait to see if the market recovers to the level where your SELL price is reached or you can price your stock (home) at the market value and expect a buyer to make a bid.