Ryans Random Real Estate Report
Alliterations aside, while showing homes this weekend, it was as apparent as ever that PRICING and strategy are the most important factors when selling your home in today’s real estate market.
One home, in particular, was, according to the real estate agent, about $75,000 under market value. While others still had the “hurry won’t last line” in the description after a couple of price drops.
Guess where the line was? Of course the under-market value home, it was priced under-market value, the agent held off on showings for the first couple days (within the MLS rules), and the photos made the house look good while highlighting the renovated kitchen.
This house will sell. It will sell despite having multiple expensive permit issues to remedy. The property will likely sell close to the median price for the area, even with these issues.
It will sell because of the pricing strategy. Every buyer asks what the lowest they can offer is and not how much it will take to get the deal. The market is in flux, and the best way to counter a buyer’s strategy is with pricing.
Price your property correctly, and you will have positioned it for maximum market exposure. Have a strategy to expose your property to the market with quality media in a business-like manner. You are not selling your home to make friends. Ask me about my “Rose Bushes” story.
If you want to price your home correctly, run an analysis of similar for-sale homes, pending and sold homes. You want an exact comparable property (if possible) that sold within the past 90 days. The closer in location, size, style, and condition, the better.
If you want a professional opinion, a Local Realty agent is ready to assist you. Through the power of the Multiple Listing Service known as OneKey MLS, a Local Realty agent will use their experience and expertise to help you determine an accurate sales estimate and pricing strategy to help sell your home.
Contact me today to find out why when you want the best, ask the Locals.
Ryan Braswell
Broker-Owner
Local Realty
80 Orville Dr Suite 100 Bohemia NY 11716