Benefits of Proper Pricing

• FASTER SALE (LESS TIME ON THE MARKET): When your property sells faster, you save carrying costs, mortgage payments and other ownership expenses.

• LESS INCONVENIENCE: Proper pricing reduces inconvenience to you by bringing about a more expedient sale.

• EXPOSURE TO MORE PROSPECTS: At market value, your percentage of prospective buyers increases.

• INCREASED AGENT RESPONSE: When agents are excited about a property and its price, they make a special effort to contact all their potential buyers.

• BETTER RESPONSE FROM ADVERTISING AND SIGN CALLS: Ad calls and sign calls turn into showings when price is not a deterrent.

• ATTRACT HIGHER OFFERS: When a property is priced right, buyers are less likely to offer low out of fear of losing the opportunity.

• MORE MONEY TO YOU: If a property is priced right, the excitement of the market produces higher sale prices. You NET more both in terms of actual sale price and in less carrying costs. 

Fish Tank Example

Week One

New Property and lots of fish.

Properties properly marketed and priced sell in the FIRST 30 days

THESE SELLERS GET MORE IN ALMOST ALL CASES!

 

Week Four

Stale Property and only occasional new fish.

What is Fair Market Value?

Fair market value is defined as the highest price that a property will bring when it is exposed for sale in the open market by a willing seller,
allowing time to find a willing buyer.

I use many of the tools that a professional appraiser uses, such as comparable sales in the area, competitive listings, size, location, amenities and the overall condition of the property. This information is researched and compiled from the most current data available through the Multiple Listing Service (MLS). Although no two properties are exactly alike, comparable properties provide an excellent reference in a comparative market analysis.

The estimated value of your property does not preclude the possibility of receiving a higher price. What your property ultimately sells for will depend on your motivation, the motivation of the buyer, market conditions and the level of marketing service you receive from your real estate professional.

Bargaining Room

Misconseption:

Buyers always offer less than asking price.

Bargaining room is a burden. It has the effect of overpricing real estate. Educated buyers will recognize a fair price and offer accordingly. We don’t lose buyers in the negotiation state as much as we lose them in the showing stage. If you overprice your property, the right buyers may not even see it because it may be out of their price range. Remember, price is the window through which buyers look at property.

To get the right buyer to the right property, you must have the right price.