In our next two blogs, we will tell you about 10 vital aspects of pricing strategy that are designed to help prevent any roadblocks to your home selling goals.
We work tirelessly with you to identify these potential pitfalls and to eliminate them. We believe you could well find this to be a major contrast between us and our competitors.
1. An agent has no control over the market – only the marketing plan.
2. Never select an agent based upon price.
3. Pricing in rising and falling markets:
a. Overpricing in a rising market may be OK;
b. Overpricing in a falling market is disastrous.
Market trend is as important as pricing. Make sure your agent understands market trends.
4. Four kinds of numbers are used to represent your property:
a. Cost – What was paid plus capital improvements
b. Price – What the seller wants
c. Value – What the buyer is willing to pay
d. Market Value – What a willing buyer and seller will agree upon
5. Regression and progression:
a. Regression – the phenomenon of an expensive house being decreased in value because of the less desirable homes around it.
b. Progression – the phenomenon of a home selling for more than it’s worth because of having more expensive property or a more desirable area around it.
More details in our next blog.
In the meantime, please don’t hesitate to contact us for more information on how we can implement a multi-faceted strategy to maximize your return from the sale of your property.