CHAPTER 4 Why It's So Easy to Sell Your Home our Home for Less Than It's Worth Selling a home can be an emotional rollercoaster, especially when buyers aren’t lining up as quickly as you’d hoped. Frustration sets in, and many sellers start entertaining thoughts like, “Maybe I should just drop the price and get this over with.” It’s a tempting solution, even for the most logical and intelligent people. However, succumbing to this temptation often results in leaving significant money on the table.
The Temptation to Settle: A Lesson from History:
In 1997, Larry Page and Sergey Brin, the founders of a fledgling internet search engine called BackRub, found themselves in a similar situation. They were eager to sell their creation for $1.6 million to Excite, one of the dominant search engines of the time. However, Excite hesitated, concerned that BackRub’s efficiency in helping users find what they needed would reduce ad revenue. In an effort to close the deal, Page and Brin slashed their asking price by over 50%, offering BackRub for just $750,000. Even at this reduced price, Excite passed. With no buyer in sight, Page and Brin decided to take their product to market themselves. Along the way, they rebranded BackRub with a new name: Google. Fast forward to today, Google is one of the most valuable companies in the world, while Excite has faded into obscurity. The moral of the story? Don’t undervalue what you have simply 11
Powered by FlippingBook