Pricing Your Home to Sell
It has been said that a realtor has no control over the market, only the marketing plan.
Let's try and take the guesswork out of the entire homeselling experience by answering any questions you may have.
With these points in mind, we at J.J. Barron & Associates Realty look forward to
assisting you in the sale of your home and becoming your lifetime real estate consultants.
It takes a well-planned strategy to effectively sell your home. Our main objective in developing this strategy is to achieve the best results for our clients. We believe that through a well-organized marketing plan, that reaches as many potential qualified customers as possible, we will sell your home quickly for the most amount of money.
Variables that will affect the sale of your property:
- Location
- Price
- Market Conditions
- Competition
- Property Condition
- Upgrades and Extras
Of all these variables there are only a few which you have control over.
Certainly your home's condition is up to you, as well as any upgrades and extras. But the most important factors that will affect the sale of your property are its location and the price it is marketed at.
It is essential to realize the benefits of pricing your home at market value.
When your home is put on the market at a price above market value, the facts are:
1. It will take longer to sell.
Buyers will recognize that the price is too high on your home after comparing it to homes similar to yours that are properly priced with similar features.
2. It will help sell other properties.
Buyers going through your higher-priced home will realize what a bargain the correctly priced house 'down the street' is with all the same amenities as yours.
3. It will have fewer showings.
Prime marketing time is within the first 2 weeks after listing - when other agents get excited about a new home on the market. Agents seeing your home priced above market value will have a problem enticing prospective buyers to look at it because the agent will not be able to justify the value of your home at an above-market value price.
4. It will ultimately sell at a lower price.
As your above-market value home sits on the market and begins to stale, you will get the buyers who think there is somethoing wrong with the house (Why hasn't it sold?) and are looking for a bargain. This will lead to more negotiating.
Benefits to Proper Pricing
1. Faster Sale
As mentioned before, when your home is priced at market value, it will sell quicker than one that is priced above market value.
2. Increased Salesperson Response
When local salespeople are excited about a home and its price, they make a special effort to contact all their potential buyers.
3. Exposure to the Right Prospects
When you price your home at market value, it is exposed to qualified buyers that are serious about purchasing a home immediately.
4. Better Response from Advertising and Sign Calls
When a property is advertised at market value, ad calls and sign calls to the listin agent turn into showings.
5. Attracts Higher Offers
When a home is priced right, buyers are less likely to make a low offer out of fear of
losing a good home.
6. Less Inconvenience
If you have had your home listed before, you lknow the energy it takes to prepare for showings, keep the home clean, look after children during showings and alter your lifestyle to accomodate showing times. Proper pricing reduces these inconveniences by having your home sold faster.
7. More Money to You!
If a home is priced right, the excitement of the market and other realtors produces a higher sale price. You will have to negotiate less because of the activity level on your home and you will receive more money because you have incurred less costs to carry the home for a longer period of time.