The following article is so well written I couldn’t help but highlighting it on our blog site as well. If home sellers are not willing to price their home where their real estate professional has advised, they are wasting time and their agent’s efforts.
In 2010 we have started calculating our home staging statistics differently than in prior years. We now ask agents if the home is priced where they have recommended. Why? We see a SIGNIFICANT difference in the days on market for those homes who are overpriced or “testing” the market. Some listings we have staged are listed for 15% over what the agent recommended . . . . hmmm.
Fabulous staging helps buyers fall in love with homes – but can’t make up for correct pricing! We like to be part of the winning combination of correct pricing and presentation!
Via Dave Pautsch, REALTOR, CRS (RE/MAX Integrity):
This is an open letter to all those who are thinking about becoming Sellers in this market.
Dear Potential Sellers;
Thank you so much for thinking of me. I am looking forward to our meeting so that I can review with you the results of my extensive market analysis, my aggressive buyer-centric marketing plan for your home, and to do what I can to help you prepare your home for a listing in this crazy market.
During the course of our meeting, which will take about an hour I have only one request of you. PLEASE do not say “Well, we don’t really HAVE to sell right now” as a way to justify over-pricing your home. If you truly do not HAVE to sell right now, the smartest thing you can do is to NOT SELL RIGHT NOW. Stay in your home, and call me again 90 to 120 days before you NEED to sell.
- This is not the market to dip your toe into the water, putting another listing that just won’t sell in an already over-crowded market
- This is not the time to overprice your home with the idea that you can always drop the price later (you either won’t do it at all – or you’ll do it too late)
- Such a strategy will ruin your negotiating position
- Every buyer who WAS in the market for a home like yours will have bought something else.
- So, when you finally NEED to sell, your only potential buyers are the new ones coming into the market…and they will see you as DESPERATE to sell, because you’ve been on the market forever
- You called me because of my reputation. Following this strategy will RUIN my reputation.
- I work hard to build a good working relationship with my clients at the start of the listing. This strategy will jeopardize that relationship, as you will rightly blame me that no interested buyers are coming to view your home.
- And honestly, the blame IS MINE if I let you follow this course of action
As your Agent – I want to be on your side, helping you to achieve your goals. IF your goal is to sell your home for the best price and on the best terms, then we (as a team) need to pay attention to the data and think of PRICE as a marketing position. Your Listing Price represents greater than 80% of the marketing battle! The other 20% is curb appeal, staging, and effectively exposing your home to the buyers and their agents who are looking for homes (online, print, MLS, networks…).
Moving or improving? Creative Concepts and Contracting has the expertise to showcase your home’s full potential, stretch your budget, and maximize your time.
Professional Home Staging – Reliable Contractor Repairs – Beautiful Results!
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