It All Comes Down To Price!

By
Real Estate Agent with Coldwell Banker Realty

 

It All Comes Down To Price…

so make sure your home is priced right at the beginning!

Covington Real Estate Sign

Is you home in poor condition? Fix it… or lower the price! Is your home in a bad location? Move it… or lower the price! Has you home not sold because of poor exposure and marketing? Look, there are 2 million real estate agents in the U.S.; 1 million members of the National Association of Realtors (NAR); 40,000 licensed agents in Georgia. So simply getting your home in the MLS and having a yard sign will ensure that it sells…IF it’s priced correctly!

That may sound a bit cynical – or silly, even. But it’s true that, if your home is priced correctly when you initially list it, it will sell. It all comes back to price… listing your home at fair market value

The prime marketing time occurs during the first few weeks your home is on the market. A brand new listing is exciting, it’s shown more, and generally, it sells for a higher price than older listings.

The longer your home is on the market – fair or not – agents and prospective buyers begin to wonder why it hasn’t already sold. It’s a fact! Properly priced homes sell faster and for money during the first few weeks of the listing.. So don’t miss the prime marketing period by setting a price higher than is justified by current market conditions and a Competitive Market Analysis (CMA). You risk the possibility of selling for even less later!

Experience in local markets varies widely. However, in a national study by NAR, the difference between Asking Priceand Selling Price over time varied like this: A home on the market over 1 month might sell for 3% less than the asking price; 2-3 months, 5.1% less; 4-6 months, 6.7% less; and over 6 months, 15.2% less! That’s why it all comes down to price!

 

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Be sure to visit my website at www.BlairOnTheSquare.com

To keep up to date on community news, events and real estate in Covington, Georgia and the surrounding area, subscribe to my blog, CovingtonLivingToday.com

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Rainer
19,584
Mechelle Cranford
Sell, Buy, Invest, Relocate, Distressed Properties - Charlotte, NC
Residential Real Estate-Wilson Realty

Thanks Bill...great post and so true!

Apr 12, 2011 03:10 PM #1
Rainer
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Sam Giannakakis
Sam Giannakakis, Residential Mortgage Group - Wayzata, MN
Mortgage Officer 612.816.1511

Very true. No one wants to spend extra money when they can get a house of equal size and quality for less.

Apr 12, 2011 03:11 PM #2
Rainmaker
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Bill Blair
Coldwell Banker Realty - Covington, GA
Covington Georgia Realtor Covington Living Homes

Thanks for the comments, guys.  I appreciate your weighing in!

Apr 19, 2011 03:18 PM #3
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Rainmaker
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Bill Blair

Covington Georgia Realtor Covington Living Homes
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