PRICING OVERVIEW… everything about price!
You have appointed me to assist you to achieve three things:
- A sale in a reasonable amount of time
- Maximum possible price in this market
- Minimum stress as is possible
I am well versed in my craft, and am absolutely committed to assisting you in achieving a positive, successful outcome.
I do not know however what the final selling price will be or exactly how long it will take.
- Nor can I GUARANTEE a certain figure wished for or needed figure
- Whilst I can influence and caress around the edges
- Ultimately, it is the market that will set the final price
The following is a brief cameo overview of some of the general fundamentals in determining price.
It is important to have a framework that we can both use pragmatically;
- To ensure that genuine offers are treated appropriately in this tight market
- & that we both have a thorough understanding of what the variables are
Whilst I understand that as an owner:-
- You will want the highest possible price
- It is almost certain that some offers that come in will be less than what you would like or were hoping to achieve (That is just the market we are in).
- Proactively make things happen
- Provide options and Feedback
- Maximise the potential in this market
Ultimately though, while the you as the Seller sets the asking price and the Agent may appraise a property, the Buyers (the market) will always determine the value.
When selling your home, one of the hardest things can be deciding on the price.
You’ve called me in as an expert to sell your home and price it so it will sell. We’re truly dedicated to gaining you the highest price you can receive from that sale. In addition, we recognize there are many reasons why you already have a certain price in mind.
After many successful years selling homes locally over many types of markets, in many different locations, we have frequently heard some of the following comments from Sellers such as the following;
- “Another agent said it was worth more”
- “People always offer less than asking price”
- “The buyers can always make an offer”
- “My neighbour was able to get her price”
- “My house is better than these other homes”
- “We paid more than that for our home”
- “We just painted and added new carpet”
- “I need this much money for our next house”
Although some of these comments may be true they are not necessarily valid when it comes to deciding the market value when it comes to deciding the market value which hardly ever is affected by the above factors.
SOME OTHER FACTORS MANY SELLERS CONSIDER;
1. The original purchase price:
- Chances are you paid market value
- But markets change and today we have to deal with the current market conditions which may have changed significantly
- In today’s market, price paid has no correlation with market value
- Improvements should be made for enjoyment, not resale
- You cannot add an item to a home, select it to your style, use it, and then expect a buyer to pay the original cost
- Likewise, maintenance preserves the value, but does not create value
- If you needed a new roof, new carpets or new paint, it was needed as a maintenance requirement and cannot be added to the market price of your home
3. The need for money: (A certain $ figure)
- Your need for money or the fact that you are moving to a more expensive area
- Where you will have to pay more for a home has nothing to do with the home’s current market value
4. The cost to rebuild it today: (Replacement value)
- Rarely do buyers in this market (Any market in fact) pay replacement value for homes, even brand new ones
5. Your personal attachment to the property:
- These factors above may influence the price in your mind, but as you can see;
- They really have nothing to do with what your home is actually worth on today’s market…
What is current fair market value?
- The price at which a property appeals to many buyers to cause a sale in a reasonable amount of time (At this time, in this market).
How do I know if my property is priced correctly?
- Fortunately, it is a predictable business
- Every action has a potential consequence, and every symptom has associated possible causes
- Over a lot of years of doing this, in many various markets, I have been able to study these symptoms
A well-priced property will always
- Generate lots of enquiry
- Generate lots of internet traffic
- Generate lots of drive-bys
- Generate many inspections
- Generate offers
- Sell within a reasonable time frame
We have created many useful tools to assist in measuring and tracking how the sale is going & will share these with you over the journey until we achieve a sale for you.
- What you paid for your property does not affect its current market value
- The amount of money you need from the sale of your home does not affect its current market value
- The price you want for your property does not affect its current market value
- What another real estate agent says your property is worth (or me) does not affect its current market value
- What a valuer says your property is worth does not affect its current market value
The value of your property:
- Is determined by what a BUYER is willing to pay, in Today’s Market, based on comparing your home to others currently for sale for comparison… & Recent Sales
Ultimately though, the BUYER’s ALWAYS DETERMINE VALUE (by Comparison shopping)
And, please remember that:
“The best property will remain unsold unless priced at current fair market value”
I will do my best to find the right Buyer who is willing to pay the highest price, close and negotiate that buyer, and get as much as I can for you.
Over many years now I have built and maintained a solid reputation for fighting hard to get my Sellers the best price that is out there in this market.
And I will for you too.
I remain committed to be your Agent!
Please feel free to contact me at any time should you wish to discuss any aspect of the campaign, the marketing or the price.