Pricing Your Home
- Your property gets the highest amounts of views when it first hits the market. An attractive asking price generates interest and demand. The asking price is just like any other feature of your property… It can attract buyers or it can make them lose interest.
- Our complete market research will help you select an asking price that will get RESULTS! List with VRC because we aggressively and proactively market your property!
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4 Major Variables Affect the Sale of Your Property:
- The Property Make sure your home is clean and in top condition. Display fresh flowers to add warmth to the environment. Allow your agent to schedule showings at the time of day when your property looks best. Remove all pets or place them in a comfortable crate and arrange to be elsewhere when your home is being shown. If selling a co-op or condominium, obtain rules and regulations from the managing agent. Obtain documents (seller’s disclosure form, home warranty, financials, etc.) and have them on hand before placing your home on the market.
- The Market In a seller’s market, inventory is low and asking prices are high. Multiple offers and bidding wars are not uncommon. Homes sell at record rates. Some homes even sell the day they hit the market.
- The Promotion & Marketing An excellent marketing tool used by our top real estate agents is a website with a virtual tour of your home or an open house. A website including a virtual tour of the home opens access to all of the key features of your home twenty-four hours a day for anyone searching for a home. The real estate agent will photograph each and every room in the home. Be sure to have your house clean, with the drapes open to let in the most light possible. The Internet will allow your home to be showcased on a virtual tour for potential homebuyers. A website with a virtual tour option may be the trick you need to sell your home. Make sure you thoroughly de-clutter your home, as you would for a home staging. This way the potential buyer can picture himself or herself living in it, without all of your personal belongings getting in the way of their own vision. A traditional approach to selling homes is an open house. An open house may bring curious neighbors to view your home. Statistically, open homes have brought in real buyers who can potentially make a quick offer to purchase your home. On the day of the open house, have only the real estate agent present to show potential homebuyers around your home. If you have pets, take them on a day trip. By the time you return you will have had some activity on the home, which will translate to a sale. The real estate agent lists all details regarding your home in the Multiple Listing Service (MLS), which reaches a worldwide audience. Review with the real estate agent the details on your home MLS listing. Ensure that all the details are correct. Refresh the wording in order to gain some new activity. Review the pictures of the house to see if the home is presented attractively and with lots of light.
- The Asking Price Your property will get the most attention and traffic the day it hits the market. The right price will drive more traffic to the property, and an exaggerated price will scare potential buyers away. In order to sell your home you will need to price the home to market demands. A home that is priced correctly will not get stale and will have the opposite effect, gaining more traffic and home viewings.
If any of these factors puts you at a disadvantage, you may end up selling for less, take longer to sell, or have more problems and headaches.
What Doesn’t Affect the Value of Your Property:
- The price you want for the property
- What you need to net from the sale
- The price you paid for the property
- How much you paid for on improvements
- The price you could have sold it for “then”
- The price you could sell it for “there
- What someone says who is not a “ready, willing, and able buyer.”
When pricing your home correctly, an agent with skill and expertise will consider these variables to give your home a competitive price:
- Local Economy
- Market Conditions
- Property Condition
- Neighboring Properties
- Buyer Expectations
- Interest Rates
- Value of Improvements
- Competing Properties
- Recent Sales
- Unsold Properties