If a home isn't selling, it's because of one or two things. #1 Price. #2 Marketing.
Correct Price + Effective Marketing = SOLD
Correct Price + Effective Marketing = SOLD
Correct Pricing #1: Agents don't decide the price.
Sellers
should not pick an agent based on that agent's price recommendation.
Agents have access to information that helps sellers understand what
the home can likely sell for. Some agents will try to "buy" a listing
through puffing up what a home could sell for and if the sellers hear
what they want to hear, they'll choose that agent.
#2: Sellers don't decide the price.
What
a seller owes on the house doesn't determine price. What the seller
needs to pocket from the sell doesn't decide the price. If sellers
could decide, wouldn't every home be at least $1 billion.
#3: Appraisers don't decide the price. GASP!
Appraisers work for the banks. They establish "Fair Market Value" and
my interpretation of that is, "Tell the bank what the bank's
reasonable amount to risk on a home is." One appraiser could value the
home high. The next could value the home low on the same day. Guess
what! 85% of the appraisers have never stepped a foot into all the
homes they are using for comparables. So, how can one appraiser really decide the price?
#4: Buyers don't decide the price.
If buyers could decide the price, no home would cost more than $1,000.
Bottom Line: The MARKET decides the price.
The
market is the combination of all of the above plus the influence of supply and demand, healthy job economics,
what others have been selling for, what current sellers hope to
sell for, buyer's confidence levels, current interest rates, the
direction interest rates are trending, etc. | Effective Marketing The lowest priced home still won't sell if the right buyer does not know about it. It's impossible to know if it's the PRICE until we are positive that
the marketing is working. This means we must be able to document that
the information about your home is landing in the lap of potential
buyers. As an agent, I'm responsible for the marketing side of the formula. With my marketing systems, I can guarantee visibility. I can show a seller that their home is being seen by, even hundreds of, potential buyers. Here is where I stand out from the crowd of agents in today's market place. I have an incredible system for effectively marketing the specific features of your home. If a home hasn't sold using my systems, we can be sure that it's not because the right buyers didn't know about your home. I make sure you know the MARKET knows about your home and if it's not selling, it's has to be because of price. I make sure that when one of my sellers reduces their price, they are NOT leaving money on the table. |