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A Home Often Has The Most Perceived Value The Day It Hits The Market

By Pamela Madore

Real Estate Agent with The Pamela Madore Group 573760

April 05, 2014 03:13 AM

Pink House Team
Keller Williams Realty
806-340-7630

"A home often has the most perceived value the day it hits the market." Gary Keller, Shift

Your home's value can be determined by buyers the first day it hits the market. That is why there is a strategy for that first day. You don't want a sign thrown up and it stuck in the Multiple Listing Service. You want a whole lot more.

Think of it as having a birthday party. Before the big day you plan out of the details. You decide who you want to come and what things they will need to make it a great party. You decide what the decorations look like and how you want the cake to look. You make sure you have enough candles and plates and hats and spoons. You want the day to be perfect!

That is what you want the day you list with the Pink House Team. And we can help you make that happen. Here are some things we determine.

What type of buyer will buy your house?
What will be their main priorities?
How do we find those buyers?
How do we determine what that perceived value will be?

If you have a two bedroom house, we won't target a large family. They would find no value in your house so it wouldn't matter what we price the house at.

It's like the birthday party. If your audience is 5 year olds then your party planning will be a lot different than if the party is for 25 year olds.

We can determine what type of buyer that will by your house by the size, location, and condition. If you have a real fixer-upper, that audience will be different then someone who can't pound a nail straight.

We will make a list of the features and benefits of your house and laser-target our best chance for a buyer; what will their top priorities be? A family with small children may be more inclined to buy a house with a stacked bedroom plan. A family with big dogs would be more apt to buy a house with a big back yard.

Once we have figured out who will buy your house then we implement our marketing strategy to find those buyers. Our entire plan must happen on the first day. In addition to signage and putting it in the MLS we also:

Have text rider signs with appropriate information
Do an immediate press release
Publish to 5 classified ads
Write an article that will attract the buyers we need and post it mercilessly
Be sure that every Realtor in Amarillo knows that it is for sale
Be sure that all the neighbors know--they may have friends they want as neighbors
Let everyone in our address book of 1300 people know about your house

At the minimum. those things need to happen the first day. Our marketing program continues to flow after that first day if necessary.

So here is the critical part. What is going to be the perceived value to a buyer? We want to be sure that you receive as much as possible for your house but we don't want buyers to turn away the first day because they think the house value is not there.

We will carefully analysis what our competition will be and look at the history of similar houses to see what buyers have been willing to pay. With that information we will be able to reasonably determine what a buyer's perceived value of your house will be on day one.

If only one buyer sees your house for sale, that one buyer may not agree with our value. If 50 buyers see your house the first day, we will know if we got the value right. If we do, someone will buy it.