When I bought my last car it came with a few months of free satellite radio service. I enjoyed listening to the comedy channels, but when the end of the free trial arrived I passed on shelling out the monthly fee.
Why not? It's not that I couldn't afford it, but for me the value proposition just wasn't adequate to get me to open up my wallet. I had choices that didn't cost me money that would provide adequate entertainment. I could listen to free radio, pop in a CD (yes, I'm still a bit old school in that regard), stream Pandora or make some other choice to pass the time when I'm on the road. There just wasn't enough to make them stand out from the rest of their free competition.
What does any of this have to do with real estate?
It's actually pretty similar. Substitute a home buyer for me as the potential satellite radio customer. Your home has competition in all the other homes on the market that offer similar features in a similar price range in a similar location...that's a lot of similars isn't it??!
So when it's time to sell your home, it's critical to create a value proposition for your home that appeals to the buyers.
First up is making sure we get the price right for what your home offers.
Second, we do have to consider the competition and their pricing. Are the offering something you are not?
Third, we have to set the table for the buyers to recognize what your home offers via our marketing. We provide an accurate factual presentation of your home & professional photos, then couple that with marketing remarks to create that WANT.
If we've done everything properly and made it easy for buyers to see your home, then we should get interest and a buyer for your home within the "normal" time frame for your type home in your market.
However, if the buyers don't show up quickly, it's time to reevaluate and make sure there are no errors in presentation and facts for your home. Has the competition changed (e.g. a new construction community at your price range just opened up)? If there's nothing wrong, then it's time to reexamine the price because the buyers have rejected the initial value proposition for your home OR your home is in a unique situation and we need to be more patient. We'll be able to assess with situation applies and make the appropriate recommendation.
Ready to talk details about buying or selling a Warren County area home? Please reach out to us at 513-520-5305 or Liz@LizSpear.com.
We look forward to hearing from you!
Serving Warren County area home buyers and sellers,
Liz and Bill aka BLiz