Pricing a home is often a delicate subject. Obviously a Seller wants to get as much as possible for their home and a Buyer wants to get a great deal. The market really determines which way the pendulum will swing. There is always a price that makes both parties happy, as seen from homes with a SOLD sign in the front yard.
The strategy comes in trying to find that middle ground up front or adjust the price within the first 60 days of the listing to meet market response before it gets "stale".
You can't control the market, but you can control the showing condition of your home. Before we list a home, we work hard to make sure it is ready for the market. See our "Prelisting" Phase of our Home Selling Process.
To illustrate why price matters, take a look at these graphs. You will see that finding the right mix of price vs. the competition and condition vs. the comps is the key to being "in the market". Meaning priced right to sell.
Our market is really a tale of two markets—80% of the homes are overpriced and 20% are well-priced. The well-priced properties are getting multiple offers. The overpriced properties are getting none.
"No Mans Land" refers to the grey area between a Sellers Market and a Buyers Market. If your home is not getting showings or you are getting negative feedback, you need a price adjustment to get "in the market". Closely monitoring showing activity, showing feedback and the market are key during the initial stages of the listing so adjustments can be made swiftly.
Listing and selling homes takes a lot more skill and knowledge than just placing the listing in the MLS and putting a sign in the yard. A thorough understanding of the market, detailed and constant monitoring of the listing process and open communication between the Agent and the client are crucial.
Contact Me for a no obligation consultation to learn what it will take to get your home SOLD today!