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15 Comments on 3 Secrets to Selling High in a Buyers' Market
yep, all three of these makes perfect sense. knowing the market is key, and taking as many objections out of the equation before they occur helps that market knowledge work.
cheers
I think this would help getting the house more competitive but I dont see how I would advise to start at a higher price. The higher you move the price up the more properties with more features are suddenly your competitor.
Maybe tips for getting it sold in general but I have to say its important to get it priced correct and not high. Expecting more money seems dangerous.
It's an oxymoron - selling "high" in a buyer's market. I like what you said about chasing the market down. We see it all the time. Homes that have been on the market for a year that sell for less than if they had priced them correctly a year ago. Example, a home at $312,000 that was $364,000 a year ago and would likely have sold for around $340,000 a year ago and now noone even wants it at $312,000.
Gary - Yes, it's impossible to price a property 'at market' unless you follow the market daily.
Shane - My point is not to overprice a house, but rather offer a superior product at market value.
Sharon - Yes, we have to deal with today's market, not last year's, or even last month's market.
All three are extremely valid and valid points. As the LREA, sometimes telling the Seller to "de-clutter" is no good, as their eye has become comfortable to what it sees everyday. Utilizing the Realtor (or a Professional Home Stager) with the RIGHT price can make all the difference.
2 weeks ago we did a Staging Consultation for a LREA who uses us on ALL her listings: with our help and her sorrect pricing, she called me yesturday to tell me the house is already SOLD (in just 10 days). Good post!
Looking at a home with 'new eyes' and presenting a 'fresh face' on day one of the listing is the perfect complement to correct pricing.
Great post. I like the comment about knowing the market and not chasing it down. This is true, but sometimes, if a seller is in a bind they do what they have to do.
PS. Lesson learned about my post today.
It still all is in the basics. To perform the same things over and over and present the same explainations of what needs to be done to every seller.
Your so right.
Richard
You nailed it! Price it right, stage it properly, make it accessible and get it sold.
"do not chase it down"....WISE WORDS Norma! This is a spiral you don't want to be caught up in. Price the home to sell and it will, don't pad the price for "what ifs". These are the homes which are selling in my area.
Tracy - Yes, there are circumstances beyond a seller's control and they must do what they have to do; giving them a true picture of the market is one of the most helpful things we can do for them.
Richard, the basics are the basics for a very good reason--they work!
David - It's a simple premise, but the application can be challenging at times!
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