- Antoine de Saint-Exupéry
How will you determine re-sale value and listing price? Did you know that 65% of homes listed in 2010 failed to sell? Did you know that 56% of the homes in the Tampa Bay MLS had price reductions in 2010?
Top Dollar
Our goal is to sell your home for the maximum price possible within the current market conditions. Our experience and the principle of price elasticity demonstrate that sale price of a home can vary by as much as 5% to 10% at any given time depending upon upon factors such as: the condition of the home, the staging of the home, the amount of marketing, the number of competitive homes that are available, the economic environment, the availability of credit, the availability of insurance, the appraisal process, the number of buyers in the market, the expertise of the Realtors involved, and the outcome of negotiations.
Prepare To Win
Careful attention to the condition of your home and the competition can increase your odds of selling for premium value. We will work together on a preparation plan that optimizes the positioning of the home before deciding on a price. The plan considers pre-inspections, repairs, staging, curb appeal and modest improvements that would have a positive return on investment.
Scout The Competition
Your home will be compared against all homes in the marketplace today: equity sales, distress sales and builder sales. We must offer a compelling value proposition that stands out from the competition. Once buyers start shopping the competition and contemplating a purchase, they focus on the relative advantage of one home over another and estimate value accordingly. After you tour the competition, Annette, Doug or Dale Bohannon will suggest specific pricing strategies to sell at the high end of today’s market.
Compelling Value Proposition
What will cause the prospect to cross the chasm from apathy to action? Buyer inertia is also a major factor in the Tampa Bay real estate market today. Low interest rates and massive price drops make the average Tampa home cost half of what it did in 2006 (in terms of monthly mortgage payments), yet many home buyers are not overly motivated to act now. While you worry about the other homes for sale, a bigger competitor may be a buyer’s tenancy toward apathy, sitting still, doing nothing. Is the home and the value proposition worth the hassle, the risk, the time, the money? Can the potential buyer just wait until something better or less expensive comes along tomorrow?
The Balance
Determining a price for a home is a delicate balance. If we price too high, the home will not sell and we will lose time, momentum and value. If we price aggressively, we may spark a bidding war resulting in a higher than expected price, or we may just have low offers. While constrained by market forces such as supply, demand, substitution, financing and appraisals, there are key strategies that yield results. We consider buyer profiles, the competition, value creation, positioning, marketing, segmentation, bundling and sunken costs. Our goal is to improve the perceived value of your home compared to the current competition in the eyes of available, qualified buyers.
We will review the data together, but you may want to read about Predicting the Price, Pricing Observations, 10 Things Shocked Sellers Say or the The Buyer Pool.
The Premium Value Home Selling System™ offers a framework to address all of the components that impact the price of a home. Contact the Bohannons at Coldwell Banker Residential Real Estate today for strategies to sell for top dollar and achieve sales results.
