Techniques in Marketing Real Estate and When Reducing the Price is the Best Idea
Tuesday, April 10, 2012
Unfortunately for the seller, price reductions are just a normal part of home selling especially in today's market. If you cannot sell the home in a reasonable amount of time, then you might realize that it is important to get aggressive in trying to sell the home. You need to know when the perfect time is to lower the price. This is important to know when you are asking the agent why all of this might be happening before you end up changing any of the pricing.
Why should I consider lowering the selling price?
When it comes to selling your own property, you want to think about considering the time that is involved. If the market is extremely slow and you can wait in selling your property it may be best to sit on it for a while instead of lowering the price. Is your home overpriced for the area? Any property that is selling for too much on the MLS listing will not sell, regardless of the other properties in the listings.
If you are not willing to list your property at a lower price, then the sign in the yard is merely a sign and will not sell the house.
What are the questions I should ask my agent before I agree to lower my selling price?
How many times has the home been viewed and how many open houses has the agent held for your property?
Is the 'For Sale 'sign in an easy to spot place and is your property listing on the Internet? Are there sufficient pictures showing off the property on the website?
Is it possible that your agent is making use of the direct style of campaigning?
What type of ads are you using, how many and what information do they convey about your property?
In case the property is sold, is there enough compensation between your agent and the selling agent?
What kinds of problems come with lowering the price of a home?
If the property itself starts out a little more overpriced then the property will probably need to be reduced to fit more regular increments until it finds the perfect price and the property sells. The problem with this is that anyone who wants to potentially buy the house may think about a home that continues to be reduced. They will be wondering how low it will go if they wait it out or they will wonder what is really wrong with the property that it must be continually reduced.
Really, the best way for anyone to sell their home is to make it a mere necessity to reduce the price. The agent that you hire is essentially your employee and, therefore, they need to examine the current area's market so they can weigh their options against the prices of homes that are sold to the prices of active homes. By doing this, they will have the ability to figure the percentages that worked on selling these other homes. Once they do this, they will be able to work these figures toward selling your property. If your agent has been active in promoting your property and has a comparison report for your area you should feel comfortable in following their expert advice for the amount to reduce the asking price and the timing for lowering your listing price.
Why should I consider lowering the selling price?
When it comes to selling your own property, you want to think about considering the time that is involved. If the market is extremely slow and you can wait in selling your property it may be best to sit on it for a while instead of lowering the price. Is your home overpriced for the area? Any property that is selling for too much on the MLS listing will not sell, regardless of the other properties in the listings.
If you are not willing to list your property at a lower price, then the sign in the yard is merely a sign and will not sell the house.
What are the questions I should ask my agent before I agree to lower my selling price?
How many times has the home been viewed and how many open houses has the agent held for your property?
Is the 'For Sale 'sign in an easy to spot place and is your property listing on the Internet? Are there sufficient pictures showing off the property on the website?
Is it possible that your agent is making use of the direct style of campaigning?
What type of ads are you using, how many and what information do they convey about your property?
In case the property is sold, is there enough compensation between your agent and the selling agent?
What kinds of problems come with lowering the price of a home?
If the property itself starts out a little more overpriced then the property will probably need to be reduced to fit more regular increments until it finds the perfect price and the property sells. The problem with this is that anyone who wants to potentially buy the house may think about a home that continues to be reduced. They will be wondering how low it will go if they wait it out or they will wonder what is really wrong with the property that it must be continually reduced.
Really, the best way for anyone to sell their home is to make it a mere necessity to reduce the price. The agent that you hire is essentially your employee and, therefore, they need to examine the current area's market so they can weigh their options against the prices of homes that are sold to the prices of active homes. By doing this, they will have the ability to figure the percentages that worked on selling these other homes. Once they do this, they will be able to work these figures toward selling your property. If your agent has been active in promoting your property and has a comparison report for your area you should feel comfortable in following their expert advice for the amount to reduce the asking price and the timing for lowering your listing price.
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