As a workaholic Realtor in Gainesville Florida since 1999, I am still learning every day. But I have found a great way to relay my opinion of our current real estate market in Gainesville. If people ask me how things are with real estate, I love to share my opinion.
It is a Price War and a Beauty Pageant all blended together.
We are all familiar with the term price war.
And we all know what a beauty pageant is too.
So just imagine the two terms placed into our Multiple Listing Service in Gainesville.
The Buyers want to find the nicest home for the lowest price.
So, when I do a thorough market analysis for a potential listing client, I want to make sure that I explain that previous "closed sales" do not determine my suggested "list price" on their home. We can't trust the comps on the closed sales, because they may be old. Our market changes daily. Closed sales from 6 months ago is not going to dictate what sells today.
A stardard CMA (Comparative Market Analysis) is based on closed sales, but as Realtors - we need to stay "AHEAD" of our market! Don't be buried in the slow market. And don't play CATCH UP! Keep your finger on the pulse of the current market.
- Watch the MLS !
- Pay attention to what goes under contract each day!
- Watch the Price changes in your MLS each Day!
- Watch the MLS for New Listings in your Neighborhood!
I discuss my marketing analysis with all my clients, and make sure they understand and know their current competition! If your CMA dictates a certain price per square foot - yet the current active listings are on the market at a lower price per square foot, then you have to position your clients' home at the right price. Your clients need to know who their competition is, and buyers are looking at those other homes too. How does their home compare to the others on the market?
Curb appeal is very important! We want the WOW FACTOR when they pull in the drive way, and when they come through the front door!
Stay ahead of your Market and Remember......
It's a Price War..... AND ...... A Beauty Pageant.
**** Written and Posted By: Chris Bohn, GRI- ABR-ePro- Your Realtor in Gainesville, Florida. Let’s find you a new home in 2009 ! Gainesville is a Great Place to Live! Copyright © 2009 Chris Bohn, RE/MAX Professionals, Inc.