More important then any other aspect of selling your home is price.
For example, if you price your $500,000 home for $200,000, I can promise you elaborate advertising or extensive exposure is not needed. Simply put a sign written in purple crayon in the front yard saying “For Sale, $200,000” and you will get the home sold in no time.
Price that same $500,000 for $800,000 and all the elaborate advertising and market exposure you could ask for will not sell that home (unless maybe Justin Bieber lives next door).
Pricing a home is as much an art as it is a science, but there are a few tried and true maxims that never change. They are:
-Fair Market value attracts buyers, overpricing never does.
-The first two weeks of marketing are crucial
-The market never lies, but it can change rapidly
Fair market value is what a willing and able buyer and a willing seller agree by contract is a fair price for the home.
The two biggest factors in your values home are location and condition. Generally, fair market value can be determined by comparables homes that have recently sold. Current homes listed for sale can also be a good indicator of value, but often you need to consider them fantasy and closed sales as reality. Overpricing is often the result of a seller that views their home as special which tempts them to put a higher price on the home, believing they can always come down later, but that can be a serious mistake.
Overpricing can prevent the very people that are looking for your home to never see it because buyers shop by price range and look for the best value in that range or the home that have the features that they most desire.
Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exiting to buyers and their agents.
With intelligent pricing, a sign in the yard, a detailed and enticing description in the MLS listing, and some decent photos, your home will sell quickly and at fair market value.
But what about getting the most for your home in the shortest amount of time?
That is where the true value of your agent comes in. Do they use internet listing syndication methods to provide access to your home across the world where buyers start their home search?
Do they use high quality HD marketing videos and extensive dynamic photos that showcase your home in a way that makes buyers fall in love with your home and abandon their negotiation position with reckless ambition? Does your agent have market expertise and negotiation skills to ensure you are getting the most money for your home?
You will get the greatest flurry of attention and interest in the first two weeks. So if you are thinking of selling your home, call me today to discuss intelligent pricing AND getting the most for your home. Thank you.