When a homeowner decides to list their property with Janet and me, it is our responsibility to market that property.  We have a very comprehensive marketing plan which includes daily exposure on television via Optimum Homes and postings on over 20 web sites.  Our marketing plan is designed to ensure that every buyer that is looking for a property in that area and price range is aware that it is for sale.  There is a direct correlation to the number of potential buyers that come see the property and the final sale price.  The more buyers that come to see the property, the better the odds of receiving multiple offers.  The seller will then accept the best offer based on price, terms and qualifications.

However, a crucial part of marketing the property is correctly pricing it.  Janet and I always do our homework before going on a listing presentation and prepare a Comparative Market Analysis (CMA).  We discuss the CMA in detail with the homeowners and give them accurate information, even if it is not what they were expecting or would like to hear.  We find that it is very important to be up front and give our honest professional opinion from our very first meeting.  This helps to actually get the property sold in the quickest amount of time possible allowing the seller to move to the next phase of their life.  It is better than having a seller with unrealistic expectations that comes back to you every 2 weeks and asks why their property has not sold.  If a real estate agent agrees to an unrealistic asking price, the agent has done a major disservice to the seller and has lost all professional validity.  The results can only be disappointing.  It has been my experience that sellers are happiest when their property successfully sells!

At times sellers are reluctant to agree to the asking prices we suggest.  For various reasons they have a predetermined asking price in mind.  We usually respond by saying that today's buyers are very savvy and educated in market conditions.  Buyers do their homework.  They have been on the internet and are aware of other properties currently for sale, under contract and recent sale prices.  They have looked at pictures, virtual tours, lot sizes and financial information.  They have a general idea of what a property is worth prior to actually seeing it in person.

Many times Sellers tell us "We can always come down".  Our very up front and honest response is that if a property is initially overpriced;

• It will lose momentum
• It will be used as a comparison to justify offers on other homes.
• Sellers will eventually reduce to market value, potentially chasing the market and ultimately receiving a lower offer.

The truth is that neither the seller nor the real estate agent establishes the price of a house.  The current real estate market does.

Sometimes sellers say "Let them make an offer".  We tell our sellers that the asking price is an invitation.  They have to see the house first.  We also want to attract the right buyers for the house.  Over pricing attracts the wrong buyers because they have expectations of what a house should be at that asking that price.

Janet and I hear similar questions from buyers in today's market;

• How long has the house been on the market?
• Is there something wrong with it?
• Have they reduced the price yet?  Are they overpriced?
• Where are the sellers going?
• When are they going?

They ask these questions because they think it will help them in their negotiations.  Many times buyers make the assumption, if the seller is out of time and options, they may accept whatever offer they can get.  It may not be the case but perception is a major part of negotiation.

Educated buyers will recognize a fair price and be far more likely to pay it.  Janet and I believe in pricing correctly and standing firm.  We discourage sellers from overpricing because you lose sincere buyers.

Sellers may say, "Couldn't we just try it at a higher price?"  Our response is that the initial listing period is usually the best marketing period.  Don't waste it being used as a comparison.

We truly believe that a property listed for market value coupled with our marketing strategies will ultimately receive a higher sale price.

Price Well and Sell!

Http://www.CoopsToCastles.com