Strategic pricing to sell a home is as much an art as a science.
The Turner DeMarco -Bolger Group works with you to strategically price your home to sell for the most money in the least amount of time
Strategic pricing and timing are everything. Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exciting to buyers and their agents.
The Turner DeMarco-Bolger group’s marketing system is designed to saturate the online marketplace on day one. In doing so, we ensure that your home will get the greatest flurry of attention and interest in the first two weeks.
If a listing doest get many showings or offers in that initial window, it’s probably overpriced and not comparing well to the competition. We’ll work with you to decide whether improving the home’s condition or lowering the price is your best option. For a listing that ran its course in previous effort, the Turner DeMarco-Bolger group will put the perfect spotlight on a listing with a fresh approach.
Strategic pricing and timing go hand-in-hand.
We know that each seller has different reasons – and different timelines – for selling their home. The Turner DeMarco-Bolger group takes these into account from the beginning.
Keeping in mind that the market can change its mind and give your home another chance, don’t you want to sell on the first try? We’ll work closely with you to strategically price and time your listing from the start. That way, it can sell for over the average price and under the average time – guaranteed.
- Fair market value attracts buyers; overpricing prevents eligible buyers from seeing the home.
- The first two weeks of marketing are crucial – the best pricing and listing strategies draw attention from the start.
- The market never lies, but it can change its mind
Fair market value is what a willing buyer and seller agree by contract is a fair price for the home. A wide range of factors determine value, but the two most significant are location and condition. Generally, fair market value can be determined by comparables – similar homes that have sold or are currently for sale in the same area.
Sellers often view their homes as special. This tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake.
Most buyers shop by price range and look for the best value in that range.
Option A: Price above market:
The most common rationale for sellers to overprice their home is they think they need room to negotiate the price. This is an old-school pricing mistake and is a misunderstanding of how the contemporary real estate market works. Homebuyers search online for homes priced between typical retail price points based on their criteria. If the home is priced too high for the local market, sellers lose those opportunities to engage the buyers who can afford their homes in the first place.
Some sellers choose Real Estate agents who purposely promises an over-optimistic selling price. This is called “buying a listing”. We don’t do that.
To sell your home, you need to attract the attention of not only buyers but the agents who represent those buyers. Oftentimes, when a home is overpriced, agents won’t even mention it to their clients because they know it’s a waste of their time.
In today’s market, everyone begins their home search online and sets price filter preferences. Therefore, an overpriced a home will be overlooked by realistic buyers. Our job is to be open and honest and focused on selling your home for the best price in the quickest manner.
Option B: Price at market value
More exposure online: With buyers today starting their home searches online, the first piece of criteria they typically enter is price. Every buyer is looking to get the most for their money, but there’s a range in which they’re looking. By pricing at market value, you increase your chances of showing up right in front of a buyer who can feasibly afford your home.
Appealing to other agents: When other agents who represent buyers see your home listed at fair market value, they will be more motivated to bring their buyers to it.
Easy appraisal: Pricing your home at fair market value makes the appraisal process go smoother without causing problems for your buyer getting a mortgage. Being realistic with the value of your home can lead to a smoother transaction all around.
Option C: Price below market value
Pricing your home below fair market value does not necessarily mean that it will sell below fair market value. When you price your home lower, you can oftentimes create a frenzy among buyers and create competition, driving up the price.
Have you ever watched an auction? It’s like that. Everyone wants to acquire the home for a bargain, but demand and attention from other buyers increase the final sale price.
Traditionally, this strategy works the best in low-inventory markets. In a market with moderate to high inventory, this approach might not be ideal.