Proper pricing can significantly reduce the time your property
is on the market. One of the most important services offered by
an experienced real estate agent is guidance in pricing. They
can be objective, and have access to current market data and the
selling prices of comparable properties. Here are some important
factors that go into pricing and why it's so important to get it
right from the start.
Determining Value: Experienced associates have valuable
information at hand. With their expertise in analyzing data,
they are able to present market information in its most useful
form and counsel you on pricing while factoring in local market
conditions, economic climate and the value of property
improvements.
Location
Many factors can affect the desirability of a property.
Neighborhoods that are close to shopping, schools,
transportation and other conveniences typically will sell for
more.
Condition
The condition of your home can significantly increase the value
and decrease the selling time. Make sure your property is in the
best possible condition at each showing. Your real estate agent
can guide you in setting up your home to "show'"
Comparable Market Data
Homes must be priced within an appropriate range based on the
current market value. You are actually "selling" your property
twice... once to the buyer and once to the appraiser.
The more interest generated; the better chance of selling your
home. When your home is new on the market it goes on the
realtors "HOT" sheet for 7days. A properly priced home should
have a good amount of activity during this period. The strongest
potential buyer activity on a listing occurs in the early stages
of marketing. This is the group with "pent-up demand" that has
already begun to explore the market and are awaiting new
properties to become available. Additional activity will come
from buyers who are new to the market.
Even when a home is priced right, other conditions such as time
of year, the economy, the current mortgage interest rates and
competition can all affect the time it takes to sell your
property.
Proper Pricing
Proper Pricing = Reduced Market Time
* Less Inconvenience to You
By reducing market time, proper pricing can reduce the time and
energy needed to prepare your home for showings, including
keeping it in "show condition", making child care and pet
arrangements and altering your life to accommodate showings.
* Exposure to More and Better Prospects
At market value, you open your home up to more people who can
afford to pay the price.
* Increased Agent Response
At a reasonable price more agents will get excited about the
real prospect of selling your home and will make more efforts to
show it to potential buyers.
* More Bottom Line Marketing Results
More ad and sign calls to real estate agents turn into showings
when price is not an obstacle.
* Higher Offers
When your home is priced right buyers are less likely to make
low offers out of fear of losing a good value.
* Faster Sale
When your home sells faster you save mortgage payments and other
ownership costs.
* More Money to You
If your home is priced right, the excitement of the market
produces a higher sales price. You net more in terms of both
actual price and reduced carrying costs.
About the author:
Christine began her real estate career proving herself a top
producer on a new high rise development. This experience gave
her valuable knowledge of construction as well as the buying
process and resulted in 4-million dollars in sales during her
first year.
http://www.getanewhome.net
