SIMPLE FORMULA FOR SELLING SUCCESS
| A |
+ |
B |
+ |
C |
= |
D |
| Improve CONDITION |
Competitively PRICE |
Maximize EXPOSURE |
SUCCESS |
- CONDITION – make those necessary repairs & improvements. Cosmetic items such as paint, flooring and landscaping allow the prospective purchasers to focus more on the house and surroundings and less on their condition.
Some degree of "staging" (similar to the detailing of your car prior to selling) will usually help you sell your home faster and/or for more money.
- PRICE – As Realtors, we frequently hear that an asking price is based off of what the owner has determined "THEY NEED", instead of one that is logically set based upon the home's competition (recent sales + current listings) along with it’s condition. Since estimating eventual selling prices is far from a science, correct pricing often requires a high degree of subjectivity. In an area such as the Lakes Region often good comparables Do Not exist. (No apples to apples, just apples to pears & oranges.)
Points To Remember
- It is often difficult to remain objective when it comes to placing a value on our own homes.
- Since predicting an actual sales price is unlikely, it's best to try to set a probable range of value in which the eventual sales price will end up.
The higher you set the asking price (within this range), the lower the probability for selling becomes.
Conversely, the lower you set the asking price (within the range) the higher the probability for selling becomes.
Combine this pricing concept with "generally, the longer a home remains on the market, the more difficult it becomes to sell, along with the likelihood of having to eventually take less than you would have likely received if you had initially set a more reasonable price." Proper pricing will also greatly reduce the odds of tying up your property as a sale that eventually falls apart do to "buyers remorse", or if financing falls apart because the lender's appraisal falls short of the sales price.
- MAXIMUM EXPOSURE - The more exposure (internet, print, signage, etc.) a property receives, the greater the chances are of selling it.
Exposure needs to be effectively targeted to the most likely buying prospects.
EVEN THE BEST EXPOSURE WILL FAIL TO PRODUCE A BUYER, IF THE ASKING PRICE IS NOT REALISTIC WHEN CONSIDERING THE PROPERTY'S CONDITION ALONG WITH THE OVERALL CURRENT MARKET'S CONDITION.
YOUR CURRY CLIENT ADVISOR WILL HONESTLY COUNSEL YOU THROUGHOUT THE ENTIRE PROCESS.