HOW SET THE RIGHT PRICE
Have I convinced you to price your home right from day one?
Fantastic, great choice! It seems like an impossible task, but don’t be fooled.
panic, a good professional has objective data based on their experience and most importantly THEIR NETWORK’S experience.
contacts to advise the seller on how to appraise the
to appraise the property at a correct price for the marketing of the property to be sold.
Your real estate consultant will make an exhaustive analysis of the property, comparing it to recent and REAL sales in the area and with the homes for sale “with which it will compete”. We sit down with you and we advise you on what is a good price of item. The real estate market is very changeable! We have to be We are attentive, adjust and even anticipate prices.
| What the value of your property is based on | What is NOT the value of your property based on? |
| The actual current market. | What you need to achieve. |
| Current competition. | What you spent on “your renovations”. |
| Current financing. | What you will do after you sell. |
| The condition of the dwelling. | What the one you are going to buy is worth. |
| Buyer perception. | What the neighbor who has already sold says. |
| Location. | Your feelings for her. |
GUIDE TO DECIDE THE PERFECT PRICE FOR A PROPERTY
It is important to set the price without losing money, No time! Sometimes less is more. And by the way, if this is the first time you’re selling you might also want to take a look at these tips to put in place first time home sale.
| Behavior of the buyers. | Your Price is… | |
| There are no consultations. | Out of Market. | |
| Calls but no Visits. | Extremely High. | |
| 1-2 visits per month no offers. | Too high. | |
| 2-3 per month and some offer. | Close to the market. | |
| 4-6 per month and several current offers. | At the right price!!! |
The danger of asking too much
In addition to the marketing that your agent will make on your property, the initial price is the other most important factor. important during the sales process. It is clear that everyone wants to to gain as much as possible from the sale of your property, so the temptation to ask for too much is common. The truth is that this is what often involves that the most expensive properties end up being sold below the value of the market at which they could have been sold at the time. Here are some of the consequences of not setting the right price from the start:
Expensive real estate will help competitors to sell yours
Your property will help others in your area prove that theirs is better, opportunity to help them “collaterally” to sell it to them first. Your goal should be to enter the market at a price that will attract buyers, not lead them to other similar properties. Watch out for this!
You will lose potential interested buyers
Clients only visit properties that are within their means, that are within their means, that often already squeezed. Even if the seller was willing to accept will not receive lower bids because potential buyers will not even come to visit the property. The customer purchaser has more realistic aspirations, has evolved, the market has made him more suspicious and thorough. Most of them set a budget as a guideline, they even go to their banks to find out what mortgage they could get. If your home is price range is INVISIBLE TO YOUR EYES.
Your property will “burn” in the Marketplace
Buyers avoid properties that have been on the market for a long time, because they assume that there will be something wrong with them or that the vendor is not willing to negotiate the price. Impressions count for a lot! Let’s work on every detail, because the customer also wants the best for his pocket.
If you lower the price little by little, the buyers will sit back and wait for the price drop to bottom out and the sale may take too long.
The best offers are received in the first 45 days, but only if the initial price is correct, being not far from the final price at which it will be sold.
Credit: Carlos Sanchez(RE/MAX)
