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How to Price a Property so it Sells
As a realtor, you know that property price determines the level of interest in a property you're selling. From the number of showings, to the number and quality of offers, to the way clients rate your services, price is key. Unfortunately, it is also something about which clients have very strong opinions—understandably so. They want a price that nets them the right amount of money, reflects improvements they've made, and captures some of their nostalgia for the home. It is incumbent on you as the real estate agent to walk the difficult line between pleasing the seller and setting a price that reflects true market conditions. This article teaches you how to set a price that reflects real-time, location-specific market realities while still catering to your clients, using Keller Williams real estate agent and ActiveRain owner Ben Kinney's pricing strategy.*
The Problem: Inconsistent pricing strategiesImplementing a fact-based pricing strategy addresses several challenges that realtors face:
Realtors list a property at the highest price possible to please the seller Sellers argue that the price is too low (or doesn't reflect the amenities and features) Banks won't loan on a price set higher than the appraised value The Solution: Ben Kinney's 5-5-5 strategyA successful pricing strategy ... more
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