Pricing, Condition and Marketing
July 25, 2007
I have spent the past several posts discussing the components of pricing your home to sell. Once the property has been priced, entered into a multiple listing service, toured and advertised, the real test for the listing price begins. While it can take longer for a seller to receive an offer when the real estate market is slowing, a well priced property should receive an offer within 60-90 days.
For selling a property there are always 3 criteria to check. Besides the price, condition and marketing are also important. Most buyers are not wanting fixer-uppers. They want an immediately livable environment. So when a property is not selling, the agent and the seller need to revisit the condition.
A serious seller needs to make the property easy to show and the agent needs to use all the various marketing tools that are available; print ads, internet pictures, flyers, signs and open houses are absolutely necessary. If potential buyers do not know that your property is for sale, they are unlikely to come to view it and without viewing it, they are unlikely to write an offer.
If the condition and marketing are both great, a revisit to the pricing will be necessary for the committed seller. Early in my real estate career, I was coached by Lois Lauer. She would counsel her sellers to gradually reduce the asking price until showing activity increased and offers began to be made. Sellers will know that they have arrived at the true market value when the showings and offers occur.
Good marketing, good condition and good pricing will translate to a sale in any market.
I have spent the past several posts discussing the components of pricing your home to sell. Once the property has been priced, entered into a multiple listing service, toured and advertised, the real test for the listing price begins. While it can take longer for a seller to receive an offer when the real estate market is slowing, a well priced property should receive an offer within 60-90 days.
For selling a property there are always 3 criteria to check. Besides the price, condition and marketing are also important. Most buyers are not wanting fixer-uppers. They want an immediately livable environment. So when a property is not selling, the agent and the seller need to revisit the condition.
A serious seller needs to make the property easy to show and the agent needs to use all the various marketing tools that are available; print ads, internet pictures, flyers, signs and open houses are absolutely necessary. If potential buyers do not know that your property is for sale, they are unlikely to come to view it and without viewing it, they are unlikely to write an offer.
If the condition and marketing are both great, a revisit to the pricing will be necessary for the committed seller. Early in my real estate career, I was coached by Lois Lauer. She would counsel her sellers to gradually reduce the asking price until showing activity increased and offers began to be made. Sellers will know that they have arrived at the true market value when the showings and offers occur.
Good marketing, good condition and good pricing will translate to a sale in any market.
posted by shirley harry at 9:18 AM
1 Comments:
Great information
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