Sellers Resource Centre
1. Gather information
Not Pricing Your Home Correctly:
Pricing your property competitively and correctly from the beginning will generate the most activity amongst agents and buyers. Starting too high and slowly correcting the price later misses the excitement and fails to attract offer.
To attract buyers you need to expose your property professionally and create value in the eyes of the buyer! How do you create value?
The value of your property is determined by what a ready, willing and able buyer will pay for it in the open market, which will be based upon the value of other recently closed sales:
BUYERS DETERMINE THE HOME'S VALUE!
AGENTS AND SELLERS ONLY DETERMINE THE ASKING PRICE!
BENEFITS OF PROPER PRICING YOUR HOME:
HOME SELL FASTER:
The proper pricing get more showing and therefore a much faster sale, which means you save on mortgage payments, insurance, maintenance, taxes and other carrying costs.
As you may know, it takes a lot of time and energy to prepare your home for showings, keeping the property clean, making arrangements for children, and generally change your daily life for showings. Proper pricing shortens market time and inconvenience.
INCREASED SALESPERSON RESPONSE:
When salespeople are excited about a property and its price, they make special efforts to contact all their potential buyers and show the property whenever possible.
YOUR HOME GETS MORE EXPOSURE TO MORE PROSPECTS:
Pricing at market value will open your home up to more people who can afford it. A few thousand dollars may turn buyers off to your home.
BETTER RESPONSE FROM ADVERTISING:
Buyer inquiry calls are more enthusiastically converted into showing appointments when the price is not a deterrent. Proper pricing will get more response for your REALTOR®'S marketing program.
When a property is priced right, buyers are much less likely to make a low-ball offer, for fear of losing out on a great value and home!
MORE MONEY TO SELLERS:
When a property is priced right, the excitement of the market produces a higher sales price in less time. You net more due to the higher sales price and lower carrying costs.
IT PAYS TO CORRECTLY PRICE YOUR HOME!
DRAWBACKS OF OVERPRICING:
Agents won't show the property if they feel it is priced too high. Would you show home to your buyers that is overpriced?
LOWER ADVERTISING RESPONSE:
Buyer interest will be with other properties that offer a better value.
LOSS OF INTERESTED BUYERS:
The property will seem inferior in amenities to other properties in the same price range that are correctly priced.
ATTRACTS THE WRONG KIND OF PROSPECTS:
Serious buyers will feel that they should be getting more for their money and will not opt to see the property. Non-serious prospects will view the property as what else is on the street, etc.
IT HELPS THE COMPETITION:
The high price makes the other homes on the market (or even neighbourhood) look like a good deal. And buyers will buy those homes.
Since a fair priced offer will be far lower than the asking price and some buyers may believe that the offer may be offensive to the seller, rather then throwing the offer the buyers will move on to another property.
LOWER NET PROCEEDS TO THE SELLER:
Most of the time an overpriced property will eventually end up selling for far less than if it had been properly priced to begin with, not to mention the extra carrying costs and headache.
My sales and marketing approach is what sets me apart from most REALTORS®. Before you sign a contract make sure you learn about my selling technique and marketing plan! And not to mention my Real Estate Guarantee!
Click Here for a Free Quick Over-The-Net Home Evaluation
Next step -See more on Pricing
Joey Khan, REALTOR®
| Toronto Real Estate | Foreclosures | Mississauga, Ontario Real Estate | Real Estate Closing Costs |