Reduce Your Home's Price The Right Way?

By
Real Estate Agent with Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com

Reduce Your Home's Price The Right Way?

How do you know when to reduce the price of your home? Don’t panic! As your #BHHS #ForeverAgent I can provide you with a fresh market analysis and help you decide if a price drop is the right decision.

The first two weeks of marketing are crucial. In that time, if your home has received few showings or offers, price is the most likely issue. It’s time to reduce the price, but do it the right way.

Don’t panic. You may feel two weeks isn’t enough time, but the market has spoken. There’s a magic number that will re-stimulate other real estate professionals to contact their buyers.

Contact your Berkshire Hathaway HomeServices network professional. They will give you a fresh comparable market analysis and identify any new trends for you, as well as discuss target pricing. A price reduction of 3% to 5% might encourage other real estate professionals to show your home and for buyers to ask their agents to show them your home.

Formulate a strategy.  It’s never healthy for a home to undergo multiple price reductions, so strive to hit the magic number once and only once.  Make it low enough that your home is near the least expensive homes that are similar to yours. You could go from receiving no activity to fielding multiple offers.

Offer an incentive.  You’ll pay the buyer’s closing costs, include a year’s home warranty, or offer a $10,000 or $20,000 discount on all offers.

Don’t call it a price reduction. It’s a price improvement! Your real estate professional can put into the marketing notes for buyers to please make their highest and best offer the first time, which politely signals others that competition for the home is anticipated.

Berkshire Hathaway HomeServices Preferred Real Estate, Best Auburn Realtors, Best Opelika Realtors, Relocate to Auburn, Move to Auburn, Houses for Sale Near Me

www.AuburnOpelikaALRealEstate.com

Posted by

 

Laura Sellers

Associate Broker, Realtor, GRI

Berkshire Hathaway HomeServices 

Preferred Real Estate, Inc.

1810 E. Glenn Avenue, Suite 130

Auburn, AL 36830

Phone: 334-332-7263

Fax: 1-888-217-3682w

 

www.AuburnOpelikaALRealEstate.com 

 

TO VIEW HOMES FOR SALE IN THE AUBURN-OPELIKA AREA PLEASE CLICK HERE.

 

EXPERT IN AUBURN - OPELIKA - REAL ESTATE SERVICES

If you are buying or selling  property in the Auburn - Opelika, AL  area, my team and I will provide you with the service that you need.  We're the #1 real estate company in Auburn's #1 office.  

Please call me today at (334) 332-7263.

 

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Comments (5)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

All good tips, Laura. Of course, as I always say, the real trick is to price it right upfront and not need any price reductions! :)

Apr 15, 2021 06:10 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Laura I agree, offering a consession is a good first step.  Great post! Thanks for sharing.  Make it an amazing Thursday.  Bill Salvatore 

Apr 15, 2021 06:11 AM
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful day!

Apr 15, 2021 07:36 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Laura and great information to share with us here in the Rain.  Make it a great day!

 

Apr 15, 2021 10:50 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Laura - that is very well said.  Have a great weekend.

Apr 16, 2021 03:59 AM