Pricing to sell

Defining the Market

1. Price: The advertised amount an Owner is willing to accept for a property.
2. Value: The amount a Buyer is willing to pay.
3. Market Value: The amount that brings a sale between a willing Buyer and a willing Seller.
4. Cost : The amount actually paid for a property plus any capital improvements made since the purchase.
5. Expireds: Properties put on the market and never sold. The prices at which these homes expired represent the “out of reach” price.
6. For Sale: These are asking prices only. They have not been attained in the market. If the number of days has been extensive, the properties are priced too high.
7. Sold: These are actual sale prices and are the best evidence on which to base a pricing decision.

Herewith some more arguments for pricing to sell.

1. Price creates interest.
2. Initial marketing time is crucial.
3. Combine realistic asking price with initial surge of interest.
4. Choose Agent on competence – not on “promised” price.
5. Buyers buy by comparison and elimination.
6. Buyers compare price and value for money.
7. Avoid over exposure by pricing realistically.
8. Seller maintains negotiation advantage with realistic pricing.
9. One chance to make “first impression” on Buyer.
10. Don’t eliminate Buyers by outpricing them.