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Actually, it’s not a game at all. It’s a critically important factor when buying or selling your home. It’s the first thing a potential seller really wants to talk about when listing their home, and the first thing they want to know when an offer comes in…EVERY TIME.
In this current market we hear non-stop chatter about price. But it’s non-stop talk when the market is hot too; it’s just a lot more animated and optimistic in that scenario!
In these challenging times, when homes are often on the market for months, how is it that in this past February, I’m out showing houses and getting into multiple offers? In a depressed market…how?!
Well, it’s because the seller priced their home to the market! They worked with their REALTOR®, thoroughly reviewed recent sold activity in their category, put in the time and effort to beautifully present the home, and then priced it right, from the start.
Then, they sold their home quickly, for very close to the asking price, with little to no fuss.
Despite the generally poor conditions, there are still hundreds of properties changing hands every month. There are still buyers who are ready, willing, and able to write a strong offer, as soon as they see the right property at what they perceive as a fair price. These buyers are waiting in the wings for new listings, and they’re ready to pounce, as soon as the right one pops up.
These buyers are what we refer to as determined current buyers and they are an important group. They have been researching and viewing listings that meet their needs and they are educated. When they find the right home, a property that they perceive has value, they will act. If they don’t perceive value, they will pick it apart, “The kitchen wasn’t for me”, or “I wasn’t sure about the layout”, or whatever other obstacle they can create.
If this category of buyers does not take action it can get quiet, rather suddenly. Missing the mark with these determined current buyers can create a very long sales process.
The pricing conversation is a complex one, with many factors to be considered. But quality buyers are always out there, ready to buy… If you are in the market because you want to sell, don’t miss out on this most important group by pricing your home incorrectly.
‘Til next month – Marla