Sellers must be classically conditioned to understand that selling a home is just like selling an item in a big department store. Many agents are starting to understand the art of merchandising strategy. The theory behind merchandising is to have the consumer get excited and purchase the product.
Real estate merchandising is all about positioning your client’s home so that a buyer takes action. Sellers and agents are starting to find out that positioning is all about PRICE.
Putting an aggressive price (overpriced) on a home in today’s challenging market is very risky. Sellers have to be educated on those risks. Some of those risks include:
- The home will accrue days on the market, which will only empower the buyer to offer less.
- If prices are falling and a seller is overpriced, the market is running away from the seller. It may make it necessary to drop the price below market value to compete with new, well-priced listings.
- A property generates the most interest when it first hits the market. The number of showings is greatest during this time if it is priced at a realistic market value. Starting too high and dropping the price later misses the excitement and fails to generate strong activity. Many homes that start high end up selling below market value.
- Today, agents and buyers do their homework, they know when a home is aggressively priced. If sellers can’t create excitement (price), agents and buyers will not view the product and consequently never place an offer.
- The art of merchandising is all about increasing traffic (buyer visits) and fielding offers. Understanding this concept just may be the difference to getting a home sold.
To find out more about this difference and how it really works, call me at 609-517-1929 and we can set up a time to sit down together and discuss it.
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