The marketing we do to promote your home has only one purpose – to increase awareness among potential buyers leading to in-person showings. Once the buyer reaches the front door, the job of marketing is over. Your home must now compete with all of the other homes on two areas: features and price.
If your home has more features to appeal to buyers – or your home is priced lower than comparable homes – your home will stand out as the better value and a must have. Conversely, if your home lacks features that potential buyers desire, your only option is to compete on price. To be effective, your home should start out as one of the top 2 or 3 best values in your immediate market area.
Pricing your home accurately is the most effective way to ensure a successful sale without appraisal issues. No amount of marketing can sell an overpriced home.
Many sellers are tempted to list their home with the agent who quotes them the higher price. Please keep in mind the agent does not set the price. The market determines the price – or value – of your home based on recent similar sales and other pending listings.
Factors that influence Market Value:
-Supply and Demand
-Asking and Selling Prices of Comparable Homes
-Your Home’s Condition
-Your Home’s Location
-Buyers Perception of Your Home
Factors with Little or No Influence on Market Value:
-The Price You Paid for the House
-Your Expected Net Proceeds from the Sale
-The Amount You Spent on Improvements and Upgrades