Many sellers have the perception that more marketing from the agent will compensate completely for the wrong price. Others think the opposite: low price will always compensate for lack of marketing. The truth is that both need to work together to make the sale. The home has to be priced correctly AND marketed correctly. Selling a home is not much different than selling anything else. The 4 P's of marketing apply (Product, Price, Place, Promotion). The product is the house itself and the way it is staged, the place is the location of the property, promotion is the marketing. All of these work together to make a sale. For example, if your local supermarket takes out a full page ad in the newspaper to advertise a quart of milk for $50.00, nobody will buy it because it's overpriced and all the advertising in the world won't compensate for being so overpriced. On the other side of the coin, they can lower their price to 10 cents a quart for milk and with no advertising, nobody will know about it and they will miss the opportunity to maximize their sales volume by effectively telling the public about this great product at a great price.
If you want to know if your home will sell in this market, pretend you are a buyer looking in that area and price range and see if you can honestly say that your home presents the best value for potential buyers. Then, make sure you do everything possible to tell the public that yours is the best value.
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