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Did You Know?
Many people think to sell a home you place
an ad in the paper and wait for a person to call and
buy the home...not so! If that were true,
real estate professionals would be out of work.
The fact is that ads don't sell homes...people do.
We are trying to educate sellers and the public
about the tremendous changes in real estate
marketing. A recent study by the National
Association of Realtors® uncovered some interesting
statistics about where buyers come from. 40%
Purchased because they recognized a salesperson or
firm name and were serviced by them. 20% Purchased
because they saw a sign in the lawn and approved of
the home's exterior and location. 18% Responded to
an ad but eventually purchased a different home. 7%
Were referred through a relocation service. 3%
Bought the home they saw advertised. * 1% Bought the
home they saw at an Open House. The best way
to ensure a quick sale is to price your home
competitively. Buyers purchase homes by comparison
and will usually make an offer on a fairly priced
property before making a low offer on an overpriced
listing. Price and possible terms are important
buyer motivators.
Why you should price your home
realistically? Chances are that your home will
sell at its fair market value. Pricing it
realistically at the outset simply increases the
likelihood for a timely sale with less
inconveniences and greater monetary return.
Competition:
Buyers educate themselves by viewing many homes.
They know what is a fair price. If your home is
not competitive in value with those they have
seen, it will not sell. Buyers typically look at
homes within a $10,000 price range. If your home
is not priced within the correct range, it very
likely will not be exposed to its potential or
targeted buyers. Reputation:
Overpricing causes most homes to remain on the
market too long. Buyers, aware of a long
exposure period, are often hesitant to make an
offer because they fear "something is wrong"
with the house. Often, homes that are on the
market for a long time eventually sell for less
than their fair market value. Inconvenience: If
overpricing keeps your home from selling
promptly, you can end up owning two homes - the
one you've already purchased and the one you're
trying to sell. This can prove costly and
worrisome, as well as inconvenient. 80% of the
marketing of your home is decided the night
we agree to the price we will list your home. If
you are unwilling to list your home at a
reasonable price when compared to its market
value, you may find yourself in one of the
scenarios above!
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