The Price Is Right
When it really comes down to it, the price is arguably the most important factor to your success.
Your Realtor can send out 300 emails and flyers and phone calls per day, do cartwheels in the lawn, cover the home in fluorescent marketing materials, or whatever.
If the home is overpriced, the chances of selling are near zero.
You will need to have an open mind, since it is often difficult to take a non-biased approach when determining the value of your own home. This is a major part of why you need an experienced, trustworthy, reliable, and knowledgeable Realtor. This person will take into account current sales trends, the local or national economy, all knowledge of comparable listings and sales in your immediate area, any inside information to which he is privy, and will provide this to you in the most objective way possible. Sometimes it may be reasonable to get an appraisal done along with the Realtor’s market analysis.
Look at your home from a buyer’s perspective. Put yourself in a “buying” position and look at the home in the most critical way. You can be assured that the buyers out there will be too.
Choose a price that is reasonable based on all the information the Realtor has provided. Shooting for the moon often results in a shot in the foot. Overpricing at the outset tends to result in a far longer time on the market, and almost always results in a lower final sales price than if the home were listed at a reasonable point from the get-go.
- Buyers will shop around and compare properties.
- Many potential buyers won’t even look at an overpriced home, thinking it’s out of their league.
- An overpriced home will help other more reasonably priced homes in the neighborhood sell first.
- Since an appraisal being at or above the final sale price is required for financing a sale, overpricing is a complete waste of time.
- Properties that sit on the market for a long time tend to get stigmatized, causing the impression that something must be wrong.
- Overpricing dampens a salesperson’s attitude and level of excitement, since the likelihood of achieving a sale is lessened.
Michael Kooistra will help you through this process in the most professional manner, with every bit of knowledge and expertise at his disposal. Michael will NOT overestimate the value of your property just to get the listing.
You should expect the most honest and unbiased conversations about values, about the condition of the home, and about what could or should be done to improve the likelihood of success.
You should expect a high level of courtesy, combined with an equally high level of candor.