Strategically pricing your home
Our goal is the highest selling price for your home
Purchasing a home is both an emotional and an investment decision for any buyer. The emotional component plays a powerful role in the buyer’s decision-making process. Through the correct pricing and presentation of your home we are able to fully capture a buyer’s emotions, which will affect the ultimate selling price and terms. The confirmation of fair market value is achieved when more than one buyer is willing to compete to buy your home at that price level or higher, which also translates, in the buyer’s mind, to the confirmation that the purchase is a good investment as well.
In the real estate world the highest price for a home is typically achieved by full market exposure to all buyer prospects that are qualified and in a position to both afford and appreciate your home.
The value of pricing at market value
Expose your home to the greatest percentage of qualified buyers
The strategy is to perfectly price your home upon its market debut, as that is when your home has the largest audience. The largest amount of “eyeballs” will be on your home in the first few days and the first weeks of hitting the market.
If the price is too high, then you may never recapture the buyers that passed it by the first time around. The longer your home sits on the market, the more a buyer reasons that there “must be something wrong” with your home, because if it were sought after, they reason it would have sold by now. Even if you reduce the price at a later date, the impact of the reduced price is not nearly as powerful at it would have been initially.
The phrase “you do not get a second chance to make a first impression” is valuable advice to heed.
Other considerations
Although the listing price you place on your property will influence its sale, there are many other factors that come into play. Some of these factors are within your control, others are not.
Factors within your control:
Preparation (the physical condition of your property: home, grounds, staging)
Pricing (the correct debut price is of enormous strategic importance)
Positioning (who is the target audience for your home + how do we reach them)
Promotion (marketing)
Factors not within your control:
Your property’s location
Recent property market values
Current economic indicators
Other factors to consider:
The ease of showing your property
The selection of the real estate sales professional you choose to represent you