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Pricing Frisco TX Homes for Sale on Features You Cannot Change

There are some features of a Frisco Texas home that you cannot change. Some features are less "desirable" when compared to other properties in the neighborhood. These features may be:

Relatively small backyard
Backs up to commercial zone
Busy street
Located in front of a school
Side walk "higher" than the house itself
Backyard slopes into the house
"Enclosed" floorplan
Backed to an electrical powerline
Backed up to a metal junk yard

When combating these features in the Frisco Texas homes, there are 2 ways of answering the objections:

ONE - Downplay the problem by highlighting it.

For example: A small yard can be landscaped and dressed up into a low-maintenance backyard. Although it's small, because it shows well, buyers almost never think it's small. They think it looks Pretty!

TWO - Price it accordingly.

In today's buyer's market such as Frisco Texas Homes For Sale, sometimes taking Option Two may not play in a higher favor. Sellers in Frisco Texas often opt to reduce the price than to "fix" the problem by saying, "if they didn't like my Purple dining room, I can always reduce my price. Then the Buyers can select any paint color they want".

Wrong Answer. Buyers almost never look at it that way. Buyers these days much prefer a house that is move-in ready. If they have specific taste, they know to change it after the fact.

Sometimes lowering the price is not the answer, especially not for Frisco Texas homes. But when it is something that you cannot change, ie the floorplan or the busy location, you might need to reduce the price enough to offset the "indesirability".

Related Articles:

Sellers, Please Remove Your Emotions From the Sale of Your Frisco Texas Home
Why Sellers Should Not Be Home When Buyers View Your Home
Business Decisions of Short Sales and Foreclosures Create Artificial Real Estate Values

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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 and more importantly, want to work with a local area expert, contact me at your earliest convenience.

I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. Find out how past clients are on their way to the closing table with this different proposition to home selling.

Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Posted by Loreena Yeo - Broker|Realtor(R) of Frisco-TX-Homes (214) 783-2210 on 03/03/2009 11:17 PM

Comments (21)

Pricing Strategy on Features You Cannot Change in the Home Selling Channel

pricing strategy for home sellers

Originally posted at: faithfully frisco tx homes for sale: Pricing Frisco TX Homes for Sale on Features You Cannot Change

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21 Comments on Pricing Frisco TX Homes for Sale on Features You Cannot Change

MAR

Loreena,

You provide good advice to your consumers. I think downplaying/highlighting is the best idea if possible.

You make a lot of really good points. Hope business is good for you.

Hiding things never works. I had a listing with an el crapo Fridge and stove. The seller didn't have the cash for new ones. From Day 1 we said "Buyer picks out new appliances to be credited at closing". When the buyers say the old stuff; they didnt even give it a thought.

Thanks for the advise. I have a listing that has a very small backyard.

Loreena, I agree that the price accordingly for the purple room may not work unless you are giving the house away. Addressing it and fixing what you can fix is the way to go. There is too much competition and people don't have to settle for what they don't want.

You are so right about the advice you give here. Sometimes it seems obvious to us that there is an easy solution to a bad feature, but perhaps not everyone can use their imagination! (I especially liked Jame's creative solution to the el crapo Fridge.)

Loreena - No matter what the problem is in a listing, it can be fixed with the right price.

Loreena,

Great advice...and it is true...fix what you can!!!

Lori Cofer Realtor Pullman WA

MAR

Good thoughts. I like the get it out in front concept. This usually diffuses the negative vibe.

Loreena, good thoughts and creative thinking, now go out and hire a stager to get the most from that back yard - we stage outdoor spaces too you know?

Loreena, You are right. My husband and I had to prepare his Mom's home for sale last year and did quite a lot of updating including painting the whole house on the inside and replacing carpet and it still has not been enough to get it sold. Imagine the diffulty selling when the seller won't change that purple room.

Sadly, most homes in an area are priced at market or above (anticipating negotiation). Many agents don't want to give the owner the fact that negative features such as those you listed, will indeed bring a lower price, for fear of not getting the listing.

Fact is, if the property is to sell, it should be priced based on market adjusted for features, condition and location.

Sellers and their agents will learn tht sooner or later. Think of the cost to the agent and seller in angst and dissapointment when they don't face these facts in the beginning.

This is very good information for inexperienced agents seeking listings. Pricing is so important.

Loreena, Sorry, wasn't logged in.

I agree with Lenn. It will also be good info for the sellers to "see it in writing".

HAPPY SELLING TO ALL THIS WEEK!

Loreena...good info! I tell my sellers what they need to hear but sometimes they dont want to hear. Our ultimate goal is to sell their house so we need to price & stage it accordingly.

Loreena - I call these features "Fatal Flaws" and the only solution is price (IMO) and not just a little price adjustment, but a major one. In my market, if a home is on a busy street or under high-tension power lines it either 1) has no chance of selling or 2) must be priced tens of thousands below comparable homes without the fatal flaw.

Especially in this market, buyers are going to be very cautious of making a bad investment (and if they aren't, their agent and/or their parents will make sure they are) and a Fatally Flawed house is almost certainly a bad investment.

Regarding purple rooms & such - FIX IT!!! No paint or carpet allowance can overcome the disappointment a buyer feels when he walks into a home that needs paint or carpet!

So... the seller should not just drop the price right away because of flaws? :-) I'm just teasing. This is good information. I think many inexperienced agents will think 'drop the price' first. You made a good point about pricing it right the first time.

Loreena - great suggestions on how to handle issues with a property. I once had a listing that had a full and direct view of a smelly paper mill. We marketed it as having a short commute to the mill. It did sell and the people love it, it just takes the right one.

Good advice for us newbies. Highlight the good!

Loreena, I agree, and have seen it in our market as well; "Buyers these days much prefer a house that is move-in ready."

MAR

Loreena, Buyers in today's market want to know they got a bargain. If you lower the price to make up for the defect, they want it lower still to reflect the cost of fixing it. Fixing it will cost you less in the longrun provided it's not structural but too many sellers just don't want to be bothered.

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