It’s a Price War and a Beauty Contest

…and you have to win at both!

It’s no secret that buyers have more homes to choose from than ever before. How do you ensure that your listing gets picked? You’ve got to win the buyer’s heart and their wallets!

Step 1: Size up your competition. Pretend you are a buyer and pick the ten most appealing homes in your area and price range. Do the homes have granite countertops and stainless steel appliances or perhaps outdoor livings spaces, like a stone patio or outdoor fireplace?

Step 2: Evaluate your home to see how it stacks up. Let’s be honest, it’s hard to be objective about your own home. Bring in a second and third set of eyes! In order to stand out in a crowded market, your home be in tip-top shape. A professional stager is a huge asset and well worth the investment!

Step 3: Price it at market value from Day 1! This is where your Realtor is worth their weight in gold! It’s human nature, sellers know offers are coming in low, so they think they need to add in “negotiating room”. When you price your home to negotiate, that’s what you get, negotiations and low offers. Buyers can see true value. When they see a home that is priced at market value, they feel an urgency to buy. They know the home is not going to be there if they delay.

There is a third party in every real estate transaction, the Appraiser. Not only must the buyer and seller agree on a price, the appraiser must agree! It may be worthwhile to have a professional appraisal prior to listing. If the appraiser agrees with your pricing, the appraisal can be used as a marketing tool. If the appraiser comes in with a different price, you will be prepared with information to help set a realistic price. Just be aware the appraisal has a limited “shelf life”.

Bottom line: your home must be the best home the buyer sees that day and at the best price in order to sell!