While a quality, professional, real estate agent will help their client determine the creation of the most appropriate list price, it is important to remember and understand that the ultimate decision is that the homeowner will sell their home. Because for most, the financial value of their home is one of their greatest personal assets, the essential skill of an agent is to create a level of trust and personal connection between the homeowner and their agent. ! When you do this, it is most possible to create, trust and connect where thorough, comprehensive discussion etc. is possible! With this in mind, this article will attempt to consider, research, review and discuss 5 key strategic considerations when it comes to determining the most appropriate starting price etc.
1. Competitive Market Analysis (CMA): The best and only logical, practical, realistic and well thought out way to determine the proposed price is to prepare a thorough Competitive Market Analysis (CMA). This should consider homes with similar properties in the same general area/region and measure/test factors such as: Time on market; the relationship between initial and selling price; significant advantages and disadvantages; pros and cons, related to a specific, local area, etc. Professionals should, based on this process, design the range and help, suggest pros and cons to the owner, while answering questions and solving specific problems.
2. Strategy/Marketing Plan: There are a variety of possible strategies and the best marketing plan must be based on meaningful teamwork between the agent and the homeowner! From the beginning, a thorough discussion of the options and what, a marketing plan, makes the most sense is a valuable step!
3. Seller's Goals/Priorities: Real estate professionals realize that they need to listen and learn from their seller's/client's personal goals and priorities/goals, etc.! The price must be based on the seller's tolerance, patience and personal comfort zone and correspond to reality, current market conditions!
4. Local market/type and conditions: Know, understand and determine existing property, local market including nuances in terms of conditions and types, including factors, based on supply and demand, etc.
5. Time Considerations: Whether the seller has the patience, ability and mindset to wait, as opposed to pressing financial/personal economic factors and considerations that often dictate pricing strategy. While someone who is ready, willing and able to wait can price a house at the highest limit, others who, depending on time, have to price it right from the start!
When you're ready to sell your home, interview potential real estate professionals before you hire an individual! factors and make sure you're on the same page from the start!
No comments:
Post a Comment