In any challenging market, initial steps to pricing are crucial.
The job of the listing agent is to collect data and carefully analyze the market data associated with the product.
The only data that should really be considered is the sold and closed data, and the days on market of similar properties.
Statistics can be culled from a multiple listing system and the city tax database, because that is where the “for sale by owner” closed data is also recorded.
One of the other keys is to look at the active data: What is the homeowner’s competition? Taking into consideration the other competing homes would give a clue to pricing.
If the listing agent has done homework with diligence and the price appears to be on par with the data, then the market conditions must be reanalyzed and the homeowner’s motivation again is explored.
A question for the listing agent to ask him/herself is, “Have I met the contractual obligation with the homeowner? Have I diligently marketed the property as it was laid out in our contract?”
If all seems to be on target, then the motivation of the homeowner will prevail as to whether the market price can be adjusted.
Re-examining the advertising and discussions with the homeowner can open different avenues of marketing.
Since this is marriage between listee and agent, common ground must be reached.
Managing the expectations of the homeowner is crucial at this juncture.
Some homeowners might decide to remove their house from the market because their motivation is not strong enough or fueled in reality.
Others will decided to adjust their price and be realistic about current conditions.
Why Choose a Realtor
An experienced Realtor has the knowledge, skills and business connections to help you through the process every step of the way.
Real Estate transactions have become increasingly complicated.
New technology, laws, procedures and the increasingly sophistication of sellers and buyers require Realtors to perform at an ever increasing level of professionalism. So it’s important more than ever that you work with a Realtor who has a keen understanding for the real estate industry.
With expertise and training in marketing strategy, negotiation tactics and the workings of the current real estate market, a Realtor will be able to guide you through all of the steps of the home selling/buying process.
Dress Your House for Success
Examine your house as if you were buying it! If your house exhibits outstanding “curb appeal,” you’ll attract more buyers. A well manicured yard and lawn show potential buyers that your property has been well cared for by you. Sparkling light fixtures, a clean entry area and an inviting doorway show attention to detail and pride of ownership. Clean up anything that might detract from an appealing first glance.Clean each room, paying close attention to the kitchen and bathrooms. Make sure rooms and closets are not overly crowded. Repair, paint, or replace anything that lessens the appeal of you property. Shampoo carpets, wax floors, clean windows, screens and window coverings. Lastly, arrange furniture so that each room appears spacious.Just remember Team Kingsley’s Four Key Steps:
B– Beautify– From the front door to the basement, from fresh flowers to fresh smells, this is the finishing touch!
Your Right Price Analysis
In changing times such as these, it’s important to know…
How Much Is Your Home Worth?
Our goal is to help you price your home competitively to attract qualified buyers.
Setting a realistic price for your home that reflects current market values will help you to sell it quickly and for the highest possible price.
Contact us for your free Right Price Analysis to get your home SOLD!