Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent to price ratio, and more.
Plano home price reductions, price adjustments, price improvements, it doesn't matter what you call it, sellers don’t wants to hear that they may need to lower their price. In slow markets it's not unusual for sellers to put the blame on the real estate agent for their home not selling.They real culprit is that the seller has unrealistic expectations for the price of their . Many times sellers will say, "Why don't do you do more to sell my house?" Before Reducing Your Listing Price ·Review Your Marketing and Answer The Following Questions1.How many ads have been are running for your home in the section? 2.What kind of direct mail campaign has been launched, if any? 3.How many open houses have there been? 4.Does the house show well online, are there a lots of pictures? 5.Is your for sale signage in a good visible location? 6.Do you have a virtual tour? 7.What kind of feedback have you received from and prospective buyers? 8.Are you offering enough commission to selling agent to make showing your home worth their while? 9.How many showings have you had so far?·Are You Selling in a Buyer’s Market?1.When the market is slow, inventory is high and demand falls. If that's the case, and you don’t have to move, maybe you can take your home off the market. 2.It doesn’t make sense to put an overpriced home on the market that is not going to receive any showings. 3.If you're not motivated to sell, you may be better off renting your house or staying put until the market corrects.Choose the Right Price from the StartIf you're price is too high, you'll need to continually reduce it until your price hits the magic number, and by then buyers will begin wondering: 1.What is wrong with your house? 2.Are you hard to deal with?3.Are you in a distress situation?4.How much lower will you go? The reality of it is that you will end up with less money than you would have if you priced the home properly from the beginning. Ideally, you want one price reduction. Here are guidelines to consider: ·Realize your agent is not your adversary but is on your side; enlist his help. ·Review the pending sales and examine the market history. How many days on market were the homes before the price was reduced and how much of a price reduction was made? You won't know the sold price, but you can determine average price reduction percentages. ·Compare the sold prices with active listings. Are sold prices higher or lower? ·Compare the history on the active listings to determine how many days on market before they were before the prices were reduced. ·Run a side-by-side comparison with active listings near the price point you are considering. Price yours so it falls in the bottom two to five listings or, if you're really motivated, price it less than anything else on the market. Is Your Plano Home Price Too Low?·Even in distressed markets, as home prices are declining, homes that are priced below the average sold prices will receive multiple offers and sell quickly. ·With multiple offers it's common to have price wars among competing buyers, which will generally result in an accepted offer for more than list price. The Final Word - Every House Will Sell if the Price is Right!
Plano home price reductions, price adjustments, price improvements, it doesn't matter what you call it, sellers don’t wants to hear that they may need to lower their price. In slow markets it's not unusual for sellers to put the blame on the real estate agent for their home not selling. They real culprit is that the seller has unrealistic expectations for the price of their . Many times sellers will say, "Why don't do you do more to sell my house?" Before Reducing Your Listing Price · Review Your Marketing and Answer The Following Questions1. How many ads have been are running for your home in the section? 2. What kind of direct mail campaign has been launched, if any? 3. How many open houses have there been? 4. Does the house show well online, are there a lots of pictures? 5. Is your for sale signage in a good visible location? 6. Do you have a virtual tour? 7. What kind of feedback have you received from and prospective buyers? 8. Are you offering enough commission to selling agent to make showing your home worth their while? 9. How many showings have you had so far?· Are You Selling in a Buyer’s Market? 1. When the market is slow, inventory is high and demand falls. If that's the case, and you don’t have to move, maybe you can take your home off the market. 2. It doesn’t make sense to put an overpriced home on the market that is not going to receive any showings. 3. If you're not motivated to sell, you may be better off renting your house or staying put until the market corrects.Choose the Right Price from the StartIf you're price is too high, you'll need to continually reduce it until your price hits the magic number, and by then buyers will begin wondering: 1. What is wrong with your house? 2. Are you hard to deal with?3. Are you in a distress situation?4. How much lower will you go? The reality of it is that you will end up with less money than you would have if you priced the home properly from the beginning. Ideally, you want one price reduction. Here are guidelines to consider: · Realize your agent is not your adversary but is on your side; enlist his help. · Review the pending sales and examine the market history. How many days on market were the homes before the price was reduced and how much of a price reduction was made? You won't know the sold price, but you can determine average price reduction percentages. · Compare the sold prices with active listings. Are sold prices higher or lower? · Compare the history on the active listings to determine how many days on market before they were before the prices were reduced. · Run a side-by-side comparison with active listings near the price point you are considering. Price yours so it falls in the bottom two to five listings or, if you're really motivated, price it less than anything else on the market. Is Your Plano Home Price Too Low?· Even in distressed markets, as home prices are declining, homes that are priced below the average sold prices will receive multiple offers and sell quickly. · With multiple offers it's common to have price wars among competing buyers, which will generally result in an accepted offer for more than list price. The Final Word - Every House Will Sell if the Price is Right!
Comments