Jack Conroy

REALTOR

The Five "Fatal Mistakes" Most Sellers Make When Pricing Their Home.

1. Sellers often price their home based on "need" rather than the market.
2. Sellers use the wrong properties for comparison when pricing.
3. Sellers build in a "negotiating cushion" and then have no one with which to negotiate.
4. Sellers take advice from well meaning but uninformed parties.
5. Sellers allow positive emotions about their property to influence their pricing decisions.

Who Controls the Marketplace?

Factor Controlled by 
Property Asking Price   Seller
Property Condition  Seller 
Property Marketing  Seller/Agent 
Property Value  Buyer! 

Six Factors that Determine "If and When" a Property Will Sell

Factor

Sell?s Fast

Takes Longer to Sell

1.       Competition

Little

A Lot

2.       Condition

Move in and Up-to-Date

Need?s work or Dated

3.       Cost / Price

Lower than Competition

Higher than Competition

4.       Location

Best schools, taxes, neighborhood

Less desirable schools, taxes, neighborhood

5.       Marketing

Aggressive and focused

Yard sign and newspaper ad

6.       Financing

Qualified Buyer + Low Interest Rate

High Interest Rates

What are the Risks of Over Pricing your Home?

Price reductions send the wrong messages.

 

Reprinted by permission of John Hamilton