Correctly pricing Your Home is the Key
There are several benefits when correctly pricing your home. They include:
1) FASTER SALE: You save carrying costs when your home sells faster. You avoid mortgage payments, tax payments, insurance, maintenance, and HOA fees.
2) Fewer INCONVENIENCES: Keeping the home clean, preparing it for showings, taking care of your pets, leaving home – sometimes on short notice - will alter your lifestyle when the home is on the market.
3) PROPER PRICE: A fair price (market value) will attract more prospects. Sellers who list too high mainly focus on that ONE buyer who may pay that price. Sellers often do not realize that they discourage many potential buyers who could also have afforded the home. Can you rely on Zillows Zestimate®? Yes and No. Ask yourself: Did Zillow come into your house to check for updates? Did they check the updates of the comparable homes? They did not. All they can do is take the sales prices, sizes, and other public data. By combining and comparing them, they come up with a price range. The home with the "golden faucets" gets punished, and the one with the "leaky toilet" gets rewarded. Suddenly, you have a $400,000 price tag on a home with a 35-year-old roof. If you walked in the buyer's shoes, would you be thrilled about that?
4) NO SHOWINGS: If you notice after two weeks on the market that you have no showings, you need to rethink your strategy. After it sits on the market for 100+ days, it is more or less "dead in the water." Do people notice it? Of course, they do. The MLS, Zillow, and other portals show all the data. The number one question of a potential buyer is always: Why did it sit on the market for so many days? Everybody is afraid that there is something wrong with the property because other buyers must have seen it within that time frame and didn't like what they found out.
5) No Offer – Lower the Sales Price: Sellers often accept a much lower offer at a much later date since that one buyer willing to pay the higher price never materialized. Usually, fatigue kicks in at some point. The bills are still coming in, and another thousand dollars fly out of the window month after month. Worst case: the A/C goes bust, the water heater explodes, and the pool pump stops working. Unfortunately, the seller has to fix all that. Do you think that doesn't happen?
Something has changed. Those “old marketing tricks” don't work anymore?
Many of us love the idea of a new home but not the selling and moving process. Preparing your house for sale and keeping it in "showing" condition can be challenging while scouting for a new home. Whether you are moving across town or the world, here are a few tips to help streamline the process even when there are bumps in the road.
We can provide expert advice on pricing your home, offer tips on home staging, and show you our proven marketing plan to attract interested buyers. Most importantly, we will handle your real estate sale from start to finish with professionalism and the service you deserve. We can also help you coordinate your move and ensure a smooth sales process. Finally, you can rest easy knowing that experienced professionals are taking care of every detail.We can give you expert advice on how to best price your home. We can offer tips on home staging and show you how our marketing plan is proven to attract many interested buyers. Most significantly, we will handle your real estate sale from start to finish with the professionalism and service you should expect. You can rest easy with the peace of mind that experienced professionals take care of each detail.
Having lots of time is key to a good moving experience. Collect all your necessary supplies and pack up things you know you will not be using until after the move, such as off-season closing. Rent a storage unit, POD, or even a dumpster to de-clutter your home. This way, you move each item or box only once before the big day comes.
Moving can easily absorb a great deal of your time. Be sure to pencil in some time for yourself to relax and enjoy usual recreation activities. Sometimes, a night or weekend away from home can boost your energy and enthusiasm if you begin to feel drained or overwhelmed with things to do.
If you think about downsizing, consider what items, furniture, and appliances may not fit into the new space, and deal with them accordingly. Before leaving your current home, get the utilities transferred over as soon as the information you need becomes available.
On the move-in day, try to arrive at your new location early to adjust the inside temperature, place necessary items in the bathroom, and fill the fridge with snacks and cold drinks. Once you start unpacking, make the bed the first thing you set up. This will give you a safe and worry-free retreat while sorting things out and a place to relax comfortably,
Three Ways to figure out What Price Tag to attach
Finding the right sales price for the home looks more straightforward than it is. Depending on how much time the seller has on his hands, he has more or less three options.
- Test the market with a high price and try to find somebody willing to spend that money. Well, it may be an option for sellers who like gambling. If the house is unique and in picture-perfect condition it might work. But a buyer has to come out of the woods fast. The game is usually over once the property is on the market for 100 or even 300 days.
- "I need that money." Well that is a common phrase you hear from sellers. Who doesn't need that money, but don't expect the buyer to feel sorry for you. Do you buy a car because the salesman "needs" that money or do you buy because the price is right?
- CMA. Taking the guesswork out of the process - CMA is the magic word. CMA is real estate shorthand for “Comparative Market Analysis”. A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace. Now you take the guessing out of the equation. It is, of course, neither a scientific approach nor an appraisal, but using neighborhood sales data and comparing them with the seller's property comes as close as it can get to "real" pricing.
Do You need help selling Your Home? Call us 941 - 244 - 8341 or email us.
Three Things that Affect a Sale
Only three things are affecting the sale. You can change only two of them, but if you do, you are taking advantage of a significant opportunity. The three things are Location, Condition, and Price.
"Let's start with something beyond your control: your location. You must live with it once you have settled in a certain place. The only time you can avoid ending up in a less-than-ideal location is when you're in the process of buying or building a home. After that, it's out of your hands."
The condition of your home is within your control, including both the interior and exterior. "Pride of Ownership" is the key. Proper maintenance and regular upkeep give potential buyers a comfortable feeling, leading them to believe that if everything looks right, the home is probably in excellent condition, which is usually the case. Conversely, if the garage door is rusting and the paint on the lanai looks shabby, potential buyers may assume that there are many more issues with the home, and they are usually right.
It's important to price your home correctly from the beginning to attract maximum attention from buyers. While you might consider testing the market at a higher price, this strategy usually leads to losing potential buyers. Most buyers prefer a straightforward buying process. They want to feel that the price is fair, might negotiate for some concessions, and then make the purchase.
