The skill of pricing a home to sell is not art and neither is it subjective. It comes with proper research and market analysis of surrounding homes within the neighborhood, similar year built and similar features. Correctly-priced homes do not stay on the market long (especially here in the Frisco and northern suburbs area of the Dallas metroplex). Usually around 30 days no matter what your housing market looks like. Yes, I do mean it. If the property is on the market for over 60 days, it is a strong indication that it is overpriced based on its location and features.
The first 3 weeks of the house on the market is one of the most important steps in the sale. With good traffic, it must already have "interests" on the property. It could mean that other visiting agents and their clients have more questions about the property or they are asking for a seller's disclosure. These are the signs that you are on the right track.
Why Is The First Three Weeks The Most Crucial?
Because it typically receives the most traffic regardless of the season: Spring, Summer, Fall or Winter. The first weekend could be slow, but during the week and the second weekend should be busier and peaks at the third weekend. Remember that buyers are usually non-forgiving in this marketplace. If it is indeed over-priced to begin with, they usually WILL NOT return for a second showing even if you reduce the price later. So, the typical seller's response about "I'll list it first, then I can always reduce it" concept does NOT work in a housing market like we have.
Also, the further away you go from the time you initially list your home, the further away you are potentially walking away from your asking price. Thus, the greatest opportunity to sell is when it is "fresh" on the market.
So,
if you are serious and thinking about selling your home, get it right the first time. There are important steps to market your home and a resourceful real estate expert in your area CAN and WILL help you get the job done so that you can move on. I employ a
systematic market approach that most real estate agents in my area do not use. When you care about being on your way to the closing table, do contact me immediately to see how different my proposition will be.
I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas.
I have also written many blogs about the Art of Pricing Your Home.
Read also, Buyers & Sellers: Does Your Price Point Really Matter?
Seller says, "I Dont Want To Give My House Away"
It Boils Down To the Perceived Value of Motivation
Much to your success.
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Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
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Copyright © 2008 by Loreena Yeo (3:16 team REALTY). The First Three Weeks May Be The Lifeline of Your Sale.
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Loreena, good information. Pricing it right to begin with is so important. I put one on the market just a few weeks before Ike and he sure took a hit on our showings.