Pricing and Marketing

 Every reasonable owner wants the best possible price and terms for his or her home. Several factors, including market conditions and interest rates, will determine how much you can get for your home. The idea is to get the maximum price and the best terms during the window of time when your home is being marketed. In other words, home selling is part science, part marketing, part negotiation and part art. Unlike math where 2 + 2 always equals 4, in real estate there is no certain conclusion. All transactions are different, and because of this, you should do as much as possible to prepare your home for sale and engage the REALTOR® you feel is best able to sell your home. 


Pricing

What is your home worth? All homes have a price, and sometimes more than one. There's the price owners would like to get, the value buyers would like to offer and a point of agreement which can result in a sale.  In considering home values, several factors are important: They include: seller motivation, location of the home, interest rates, economic conditions, time of year, condition of the home, marketing the home, terms of the sale and accessibility to the home.Some of these factors are beyond our control – location of the home, interest rates, economic conditions.   Pricing a home correctly can make a huge difference in whether a house is snapped up within the first several weeks of listing or sits on the market for more than a year. To price a home properly, you and your agent will study the local market, research comparable properties and consider current market conditions. This is where the “comparative marketing analysis” will come in handy as a place to start.   Check around your neighborhood, your newspaper and Internet sites for other similar homes for sale or that have sold:   

  1. Are there many properties just like yours for sale in your area right now?
  2. Listing prices: What are other properties like yours listing for?
  3. Selling prices: What are other properties like yours selling for?

Marketing

Products that sell well usually have a good marketing strategy. Selling can entail a variety of marketing strategies. Will the house be advertised only with a yard sign? Do you want your house listed for sale not only in newspapers but also on Internet sites. When can you make your house available for an “open house” showing? When a potential buyer arrives for an “open house” or drives by and sees the for sale sign, you’ll want to provide a home profile handout that they can take with them. Decide what information should be included in the description of your home that will make it a must-see – and hopefully, a must-buy. Include one or more photos of the home to showcase the most appealing features of your property and help remind potential buyers of what they saw as they visit home after home.You may even want to include a few lines about benefits of moving to this property, such as good schools, convenience to mass transit and other desirable community features.    You and your agent should work together to develop a marketing strategy that works for both you and your house. Much of your agent's work will be quiet and unseen -- yet important. The quiet telephone calls, the work with contacts, the follow-ups with open-house visitors, conversations with ad respondents, the web postings and other outreach efforts are all part of the process required to sell homes.  Every property is different. Each is unique, the marketplace is always in flux, interest rates constantly change and new buyers search for homes each day. With such fluidity, a flexible marketing plan will have the most success. Together we will formulate a marketing strategy that works for both you and your home.