Six Truths About Pricing Your That Every Home Seller Needs To
Truth #1: Buyers buy after "shopping around".
In their search for the best buy they are comparing your property
to the others currently on the market.
Truth #2: Sellers control the Listing price and salability
of their homes but buyers control VALUE -- the Selling prices .
A property is worth what the market (buyers) will pay.
Truth #3: If a property sits on the market for more than
a few weeks it gets shop worn (stale... like an old donut). Price
it right in the beginning while it is fresh and buyer interest is
at its peak.
Truth #4: Most properties must be sold three (3) times...
- First...to the real estate agents who have the buyers. If they
don't see it as a decent value, they may not show it and they
will take their buyers elsewhere.
- Second... to the buyers. If they don't see it as an attractive
offering, they'll look elsewhere.
- Third... to the lender who will make the loan and the lender's
appraiser. If this group doesn't see the value... no loan.
Truth #5: What it means if...
- No showings: Agents don't see your offering as worthy of showing
to their buyers. Or, buyers themselves aren't interested enough
- No Offers: Buyers don't see enough value to even negotiate or
try to buy.
Truth #6: Overpriced properties actually help well-priced
Pricing the home properly can make a huge difference in whether
a house is purchased within the first several weeks of listing or
sits on the market just loosing it's price and appeal..
Proper Pricing is Critical To Sell Your Home. Here're the Dangers
of Overpricing Your Home:
- It helps sell competitor's houses
- It discourages qualified buyers and eliminates the offers
- The Mortgage loan can be rejected
- It reduces advertising response
- It discourages showings by other agents
- It attracts bargains hunters
Here's what I to help you determine the Fair Markt Price of your
We will perform a Comparative Market Analysis (CMA) of the market
value of homes in your neighborhood because ...
Pricing your home is the single most important step in successfully
marketing your home!
We will collect data from various sources, produce the computer
analysis. We will study contracts that have closed in the past 90
days, contracts that are pending, and homes that are currently on
From this information we can determine recent market activity,
immediate market value of the neighborhood, and the degree of competition
in the area. Our analysis will be concentrated on homes similar
to yours, and we will also include descriptions of the homes used
in the analysis so that you can compare you home's features with
the other homes. In the marketing of any product, features, price
and competition (supply) are three of the most important factors
of a successful sale.
Once we have collected the data we will compare each of the homes
with your home to determine an accurate price range for your home.
We will present you with an up-to-date, accurate price range (i.e.,
$578,500 - $599,990).
The information you provide, such as marketing features of your
home and the answers to the below questions, will help to further
pinpoint the value of your home. Other factors to consider include
the condition of the home and the time frame of your relocation.
Then we apply the current market's bid/ask spread to determine
the asking price.