MARKETING PLAN

MCANAW REALTORS

PREPARING YOUR HOME

PRICING YOUR HOME

SHOW TIME HINTS

SHOWING SUCCESS
Kay’s Best Pricing Rules
 
Rule #1 - Never select a Realtor based on price.  A Realtor has no control over your local market conditions.  Select your Realtor based on the services and competence of the company and the agent.  Don't allow agents to bid up the price to get your listing.
 
Rule #2 - Overpriced homes take longer to sell.  The longer a house is on the market, the less likely the chances are the house will sell for close to full price.  Have you ever asked how long a home has been on the market?  What conclusion did you draw?
 
Rule #3 – Don’t be tempted to “try a high price” for a little while.  The highest amount of activity for a property is at the beginning of the listing period.  It is very important then to have your home in the best condition and at the best price during this high exposure period.
 
 
 
 
Seven Best Reasons to Price It Right!
 
 
 
1.  Your Home Sells Faster!  The faster it sells, the less you spend on carrying costs, mortgage payments, and taxes.
 
2.  Less Hassle!  If you’ve moved before, you know the time and energy that goes into showing your home.  It’s work!
 
3.  More Exposure!  You generate not only more buyers but buyers who can afford the property.
 
4.  Realtor Excitement!  Realtors love to show homes they think they can sell at a fair price.
 
5.  Buyer Excitement!  Calls from signs and advertisement turn into showing when the price is not a hindrance.
 
6.  Better offers!  Buyers are less likely to offer low out of fear of losing a good home.
 
7.  Sellers Make More Money!  If a home is priced right, the excitement of the market produces better and more offers, which result in higher sales prices.  You net more in the sale price and in lower carrying costs.
 
 
 
Seven Bad Reasons for Overpricing
 
 
 
1.  Need.  An owner’s need for money does not increase the value of the home.
 
2.  Buying in a higher priced area.  Home values are location specific.  Just because you are moving to a market that has higher valued homes does not mean your home is worth more.
 
3.  Not knowing the facts.  Set your price  based on recent documented sales prices.  Do not believe everything you hear regarding sale prices.  Owners often exaggerate the sales price of their home, especially at the office!
 
4.  Added over-improvement.  Improvements should be made for enjoyment, not resale.  Just because you added an item to your home, selected it to your style, and used it does not mean you can expect the buyer to pay the original cost.  Also, normal maintenance and necessary improvements due to age do not normally add significant value.
 
5.  Original purchase price high.  Chances are paid market value.  It’s not the price that was too high when you purchased your home, but a market that has experienced subsequent change.
 
6.  Bargaining room.  Buyers may offer low, but they will do that at any price.  Chances are better that your will sell your home when you negotiate up market value rather than to an inflated price.  Homes in Bartlesville sell for an average of 96% of list price.
 
7.  Moving isn’t necessary.  Even if the more is not urgent, price it correctly to save your marketing chances.  Don’t allow  your home to  become a “stale donut.”  Wait until  you are ready to sell, and then put it on the market.