THE ON-TRACK PRICING PHILOSOPHY:
>>>To select the price and strategy
>>>That is right on target
>>>& Generate offers.
***(Sold for maximum price, minimum time, minimum stress)***
>>>(Ideally and Preferably this will in the first 4-5 weeks
As this is when the property is worth the most and when our best chance to get the highest price exists).
RULES OF THUMB:
1) If you are getting showings but no one is writing an offer:-
>>>(it generally means that the property is in the range of at least 5-7% above market price).
2) If your number of showings is low and you’re experiencing a lot of drive-ups but the buyers don’t come in to see the home:-
>>>(then the property is at least 7-10% overpriced).
3) If no showings are happening at all:-
>>>(then the property is likely priced 10++ % or more above what the market will bear for the property).
How will I know if my home is priced correctly?
The best barometer is inspections and OFFERS.
- Ultimately, we know because the HOME SELLS.
- Although we will do everything we can to sell your home in a reasonable timeframe
- At the best price, with no hassles, the one thing we cannot control or change is the market.
- Even though we know how valuable your home is…
- The value of your home from a selling standpoint will be determined solely by the Buyers.
###Therefore, we have generated the following “levels of seriousness”
…to help give you better knowledge of whether or not your home is priced correctly…
- …& remember, even if it is priced correctly today, any fluctuation in the market
- …needs to be monitored to make sure that your home is neither overpriced nor underpriced.
We will communicate with you throughout the time your home is on the market
- To help you understand what is happening with the market
- So that you can make the decisions that will help you realise your real estate goals as quickly as possible.
THE THREE (3) LEVELS OF INTEREST/ ENGAGEMENT FROM BUYERS.
LEVEL ONE- “MAYBE THIS SELLER ISN’T SERIOUS” LEVEL…
- No showings and no offers.
- The Agents and potential Buyers are not interested in even seeing your home because they believe they can buy more for their dollars elsewhere,
- OR they are “Shocked” based on the initial asking price to perceived value question so dismiss without looking.
- The ultimate rejection. PRICE SHOCK!
LEVEL TWO- “IT’S OKAY…BUT I THINK I’LL KEEP LOOKING” LEVEL…
- Either ten to twelve showings and NO offers
- And/ or just a few showings and/ or three home opens and no offers
- And/ or the number of showings has slowed down since the first few weeks when the listing was initially placed on the market
- And/ or the home has been on the market for four to six weeks with no offers
- And/ or potential buyers believe that they can still get more house for their dollar (better value) and are willing to keep looking/ At the very least they want to keep their options open.
LEVEL THREE- “THIS IS IT!” LEVEL (“Wow this home is good value”)...
- Showings, second showings,
- Offers in the first four to six weeks.
- Congratulations!…We are at the level where you want to be;
- You have placed your house on the market at the right price.
- At this level, we should be able to hold within just a few percentage points from where the home is currently listed.
- Potential purchasers believe that your home is one of the nicest homes…
- & best valued on the market…
- & that the price supports their belief that your house might be their next home!!!
- They are ready to buy!
***It is important we read, interpret and respond to market conditions
…if we are to remain a relevant property in the current market***
I remain committed to the process and I look forward to helping you achieve a great result in the coming weeks.
Thank you for your business and continued trust.