Ninety percent of selling anything in this world involves price and the value perceived by that price.  If you buy the brand new Sony Blu-Ray DVD Player, be prepared to pay around $399 for it.  That's an expensive DVD player, wouldn't you agree?  However, let us not judge in haste, lest we miss the point!  Have you seen the picture that this DVD player produces?  Oh my, I was at Best Buy the other day and was mesmerized for about five minutes watching a video on this DVD player and couldn't believe my eyes.  Let me get to the point!  The value is high, the price becomes secondary but must be competitive with other companies making the same DVD player. 

Same scenario with a house.  If a house has a value to it that can be seen, the price of the house becomes secondary, especially when other homes for sale in the neighborhood are similarly priced. 

If you OVERPRICE your house, people will bypass the value and may never set foot in the house at the advice of their real estate agent or family members.  Buyers and their posse are very much in tuned with home price versus value and will be blacklist a home if the price and value don't balance.

So, let's look at a PRICING PRIMER by Christopher Smith on the DON'TS and DO'S of OVERPRICING YOUR HOME.

Overpricing Your Property, Even by a Little, Can...

  1. Reduce agent showings
  2. Minimize advertising response
  3. Eliminate interested buyers
  4. Attract unsuitable buyers
  5. Eliminate potential offers
  6. Help sell competitive homes in the neighborhood
  7. Cause problems with appraisals
  8. Increase holding costs
  9. Increase maintenance costs
  10. Leads buyers to ask the question, "What's wrong?"
  11. Leads buyers to "wary negotiations."
  12. It's the first impression that you don't want

Benefits of Proper Pricing Can..

  1. Cause a faster sale
  2. Minimize hassles and inconveniences
  3. Attract the right target market buyers
  4. Increase agent showings
  5. Encourage stronger offers
  6. Increase net proceeds
  7. Create a "sense of urgency" in the buyer
  8. Encourage multiple offers
  9. Create an "in industry" buzz
  10. Causes compliant buyers
  11. Less "nibbling" after the close
  12. Less buyer's remorse

I want to SELL your home and place it on the market now.  The "BUSY SEASON" is fast approaching, and I will need enough time to work with you to prepare your house for sale, and that includes pricing.  My slogan is "Success in real estate at the SERVICE of others."  The service you receive from the sale of your home will be unparalleled to any other service you have received, period.  If you have read this blog up until now,  good news for you in the following paragraph.

If you mention this blog and list your home with me, I will take $1000 off of my listing side commission.  This is money that goes into your seller's net proceeds at closing, and you can take that money to the bank!  Do not wait on this offer.  Whether you have a  $60,000 home or a $360,000 home, every dollar counts and here's the good news.  Knowone markets your home more aggressively for less money as an agent to more "potential buyers" regionally, and nationwide, than Traditions Real Estate and Christopher Smith.  Call or email to set up a listing appointment!

Christopher Smith

Traditions Real Estate Systems

www.christophersmithrealtor.com

Christopher.smith.realtor@gmail.com

319-329-5988

Licensed Realtor in the state of IOWA

"Success in real estate at the SERVICE of others."