Why Price is Key to Selling Your Home

WHY PRICE IS KEY TO SELLING YOUR HOME

Your house is your castle – even when it’s for sale. Let’s assume it’s in splendid shape. Let’s say your terms are competitive; your timing’s clearly set. Now, what about your asking price? Without question, price is your most important sales tool. Here’s why:

The period of best opportunity for selling a home at a reasonable price is the first four weeks after it is put on the market. Buyers who have seen most available listings are waiting for just the right house to come on the market. If your house is priced right from the first, you are in the best position to attract the maximum number of buyers able to pay the price your home is worth – and to sell your home within your timetable.

If your house is underpriced, you may be swamped with lookers and perhaps get many offers. But you could lose thousands on one of your family’s largest investments.

If your house is overpriced, lookers are apt to be few and far between, with little chance of any offers to pay your unrealistic price. You may lower your price later, but by that time you will have missed many of the most interested buyers.

How do you set the right price?

Arriving at an asking price involves up-to-the-minute research and experienced judgment. Besides enlisting our help in checking out the current real estate market conditions and financing trends, the basic steps include:

Measuring your home against similar neighborhood homes that have recently been sold or are currently on the market.

Determining what features make your house stand out among others currently on the market. After all, buyers are comparison shoppers.

Weighing the spending of a reasonable amount of money on cosmetic fix-ups that might enhance the marketability of your house and earn the highest possible sale price.

The right price is usually within 5% of market value (a constantly changing factor) and usually results in a fair-dollar sale within a reasonable amount of time. As we say, “Price sells.”

Why is overpricing risky?

A price more than 5% over market value may have these results:

Buyers may resist inspecting your home because they can find better values elsewhere. (Overpriced houses tend to sell the competition first.)

Potential buyers who can’t afford the price don’t bother to look – or to make offers.

A buyer willing to pay an over-market price may have difficulty getting financing. Lenders may not approve a loan if the appraisal is lower than the contract price. (the delay from a failed sale can mean missing out on the critical first 30-day marketing period.)

Your unsold home will begin to get “stale”, as the marketplace assumes there is “something wrong” with the house.

To make up for lost time you might be inclined to lower the price below competing houses in order to move it.

Is it ever smart to underprice?

Setting a price below market value usually isn’t preferable because you may be losing money. If time is more important than money and you need a faster-than-average sale, you may consider setting a bargain price to attract the greatest number of prospects. The chart below shows how asking price affects the number of prospective buyers who will look at that property. From experience, we know market value delivers the optimum number of prospects at the best price for a quick sale.

When you’re ready to sell your home, take advantage of our real estate expertise to help your home to sell.

HOW THE RIGHT PRICE ATTRACTS THE BEST BUYERS

OVERPRICED

Few Prospects,

Fast Sale Doubtful,

Reduction Probable

UNDERPRICED

Many Prospects,

Fastest Sale,

Lower Return

How A Market Analysis Helps Price It Right

Only a professional market analysis can give you the accurate, reliable foundation you need to price your home right. When you ask for a fair-market analysis of your home, here is what we do:

Evaluate your home’s location and lot size; you home’s age, size and condition; the number of bedrooms, baths, total rooms; the kinds of extra features you have (such as improvements, built-ins, garage, toolshed, spa).

Examine the condition and appearance of your home’s exterior and interior. Help you determine what repairs or refurbishing may be needed to sell your home at its best price.

Review the assessed value of your home, its previous sale prices, your maintenance and utility costs and your local taxes.

Compare your home with similar area properties currently for sale or recently sold.

Note current real estate market conditions with a practiced eye; also current interest rates and lenders’ criteria.

Sample Display Ad Copy or Flyer Example:

FREE Special Report!

PRICE – The Key To Selling Your Home

You need to know certain critical points about pricing and it’s importance as a sales tool.

This free report reveals the factors that must be considered to set the right price for the timely sale of your home.

Call Now…1 800 550-0059 Code XXXX

For 24 hour recorded message

Sample Classified Ad Copy:

HOMESELLERS

Price is Key

Do You Know why Price is the Key

to Selling Your Home ?

FREE Special Report

Call 1 800 550-0059 Code XXXX

For 24 hour recorded message

Suggested follow up script when calling potential clients back:

“Hi. This is (your name) . I’m with (your company) and I noticed you or someone at this number called my hotline regarding our special report for ( Name of the Report). I would like to confirm your mailing address so I can send this free report to you. (Confirm address and enter into your database). Do you have an email address or fax number?

Do you have time to talk now?

(IF YES) Start gathering details and lead to setting up an appointment

(IF NO) When is a convenient time for me to call you?

Professional Recorded Script - Code 10127

Copy Professional Recorded Script into your Home Code

Dial the load number

Enter your ID followed by the # sign

Enter your Password followed by the # sign

Press 1 to enter the Listing Menu

Enter Your Home Code Number that you wish to use

Press 9 – You will be prompted to enter the professional script number to be copied.