Pricing your Charlotte NC home to sell. I have written many articles about pricing your Charlotte, NC home to sell but a recent listing appointment really hit home on this point.
I recently went on a listing appointment to meet a couple who was referred to me by a dear friend. They were a lovely couple just as nice as could be and I thoroughly enjoyed meeting them and spending time to review my listing presentation. The house was immaculate, their furniture was up to date...BUT the house was dated, floral wall paper, outdated bathrooms, outdated kitchen, I could go on and on. They had owned the home for over 45 years, added on over the years (including some things that were very personal and not very marketable), this home was part of the family and there was a high emotional attachment to it by the owner which meant they were completely out of touch with the reality of what this home would be worth in the current Charlotte real estate market.
I spent several hours going through the home with them while they pointed out every detail and then went back to the office to prepare my listing presentation. I knew I was going to have to walk gingerly around the subject of their home's condition and how to price their Charlotte NC home to sell. To them the house was perfect and worth top dollar; to a buyer it would be no more than a dated fixer with good bones at best.
I began my listing presenation as I always do, with a review of market conditions and an explanation of what it takes to sell a home in today's real estate market:
- Absorption rate - how long it will take the current inventory to sell if no other homes come on to the market. Current absorption rate in their area 12 months ie: their is a 12 month supply of homes on the market. Six months supply is a balanced market, less than 6 months supply is a seller's market, more than 6 months supply is a buyer's market. They are in a buyer's market.
- In order for your home to sell quickly you MUST address the two things you have control over - Price and Condition. Pricing your home ahead of the market (at or slightly lower than current comparable sales and actives) gives you the highest probability of selling. Condition, putting your home in the best most cost effective condition gives you an advantage over the competition who does nothing.
- I also included a chart I obtained from my Ninja selling class to hit home this point:
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