Pricing Your Home To Sell

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Most home sellers are focused on two things:  selling their home for as much as possible, as fast as possible.  Pretty simple, right?

Yes.  And no.

I was just reading a recent blog post from my Broker, Christopher Bennett.  In addition to being ridiculously smart, Christopher is exceptionally talented at distilling complex concepts in to very clear, concise thoughts.  So when it comes to the two primary goals of most home sellers, Christopher really nailed it.  A quick excerpt, to give you a feel on putting marketing and pricing in perspective:

The only thing marketing does is make a buyer aware of a home, after that, the home must meet the buyer’s needs and the buyer must find value relative to his other choices in the same market.  Today’s buyers are more price savvy and price conscious than ever.  They tend to do a tremendous amount of research online before ever looking at a home, so by the time they get in a home they have a pretty good understanding of its value relative to other choices.  

85% of getting a home sold is pricing it correctly for its market.  The rest is about making the buyers and the local real estate agents aware of the home.  If you don’t get the first part right, the only thing good marketing will do is make more people aware that a home is over priced, which results in both buyers and agents ignoring the home even once the price is adjusted into the correct range thus reducing what a seller is likely net.

Read all the entire post- it’s a great read.   Of course, if you’re interested in chatting about the post further as part of a more in depth conversation regarding selling your home, just give me a holler.

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