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5 Approaches To Pricing A House, For Sale!
By [https://EzineArticles.com/expert/Richard_Brody/492539]Richard Brody
After, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I constantly, emphasize, with clients, customers, and/ or, potential ones, in real estate, especially, selling houses (residential property), there is no – such – thing, as one – size – fits – all, in terms of using the finest – possible, selling/ pricing strategy! Times, market conditions, the current real estate market, the overall economy, supply and demand, etc, are among, some things, which affect pricing a house, to sell! One should remember, there is a significant difference, between the listing price, and what it, ultimately, sells – for, so the better, one understands, some of the possibilities, and proceeds, with an open – mind (without greed, etc), the better, the results, in most cases! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, what this means and represents, why it matters, and what they are.
1. Price according to a professionally – designed/ created, Competitive Market Analysis (CMA): I strongly, believe, in most cases, the smartest way, to price a home, is, on the basis of, a professionally – designed, and created, Competitive Market Analysis (CMA). When, one compares the subject property, to those, most – similar, in the specific location/ region/ area, it gathers, a real idea, of what, potential buyers, have, recently, been willing to pay! However, when local real estate markets, are, changing, dramatically, either up, or down, this must, also be considered, in creating a listing price, which creates the most – desirable, result, which, for – most, is securing the highest – possible price, in the shortest period of time, with the least amount of hassle/ stress!
2. Aggressive/ high pricing: When, the house is offered, at, what seems like an extremely, high price, many refer to that, as aggressive pricing! The best time, for this approach, is, during times, such, as the one, we witnessed, this past year, where the price of houses, keep rising, at significant rates!
3. Mid – range pricing: During, so – called, normal times, many prefer using, a mid – range, pricing strategy! This means, evaluating the market analysis, and, offering the property, for – sale, somewhere, in the middle of the indicated range!
4. Lower – end: Conditions, and situations, when lower – end, pricing strategy, may be indicated, include: when the seller needs to sell, as quickly, as possible; when, the house, may lack some of the most – preferred characteristics/ inclusions, the competition, has; and/ or, to encourage, more viewers!
5. Seek a bidding war: There are times, when, either, a particular property, set of circumstances, and/ or, conditions, make it, a good time, to encourage a bidding war! This is, usually, done, by publicizing a lower, than usual, listing price, with the hope, it will bring – out, more, genuine, potential, qualified buyers, and, thus, more acceptable offers!
The key to selling your house, is, knowing what you need, and want, understanding current market conditions, and hiring, the best real estate professional, for your needs, etc! Since, for most, the value of one’s house, represents, his single – largest, financial asset, doesn’t that, make sense?
Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, consulted to thousands, conducted personal development seminars, for 4 decades, and a RE Licensed Salesperson, for 15= years. Rich has written three books and thousands of articles. Website: http://PortWashingtonLongIslandHouses.com and LIKE the Facebook page for real estate: http://facebook.com/PortWashRE
Article Source: [http://EzineArticles.com/?5-Approaches-To-Pricing-A-House,-For-Sale!&id=10547226] 5 Approaches To Pricing A House, For Sale!
Here in Houston, TX metro plex it is a strong seller’s market and the right buyer’s agent can help you to win a property offer. How do you choose the right buyer’s agent? Asking the right questions is a great place to start.
A full time agent would be available to show you houses fairly quick. An agent that is not over loaded with too many buyer’s at one given time can give you the time you deserve as a buyer. Make sure the agent will show you houses according to a schedule that fit’s your needs as well.
A full service agent will help you pretty much like a concierge would. While you are at work the agent can help you schedule inspections, obtain vendor bids and attend inspections on your behalf if necessary.
Finally, when the property goes under contract make sure the agent will follow up with all parties so that the purchase goes smoothly.
P.S. Always look for an agent that came in recommended or has online reviews from past clients.
Do Real Estate agents cut commission?
What is the difference between a discount broker and a full service broker?
If you agree or disagree comment below. These are my opinions…I want to hear what you have to say.
This is nothing new since decades ago realtors have been cuting commission. So when you find websites with those offers consider the facts before you hire based on discount.
As a professional if this is the first and only question on your mind. That is a great question and I’m concerned you are doing a diss service by not knowing the full facts.
Haggling is smart and in the case of representation I assume that your real concern is getting the most for the sale or purchase of your home? If I were a buyer or the seller I would be concerned about the same, netting the most for my sale or spending the least for my purchase…
However, in real estate when you hire a discount broker…with out know the full facts you may actually be getting this:
You are being offered a discount on service. A discount broker will likely have you doing all the leg work. Problem in the transaction? You likely won’t have your real estate broker besides you to carry you through step by step. So interview carefully before you hire.
There ARE discount brokers out there.….If you are an expert in real estate and if you know exactly what you are doing then that might be a good fit for you. If you are not an expert in real estate then remember not every agent is equal just as not every car is equal and not every restaurant is equal.
If what you want is the best the best results, someone who you can call and will guide you thru the steps so you don’t lose money, so you net the most money, so you don’t commit a big mistake then you are looking for a full service broker that handles just about everything. A full service reputable broker who picks up the the phone, someone helping you obtain contractor bids while you are at work and most importantly negotiating you the best deal.
A better question when interviewing is: How will you help me get the most for my sale or the most for my purchase? How many clients do you take on at a time?
Reading the real estate agent reviews is another great tool for you to hire the best. This in turn will protect your greatest asset and you can get the most bang for your property as a buyer or a seller.
What are your thoughts? Leave me a comment and I’ll see you next time.
Would you look at zillow and tax roles to determine value?
The answer is no, that’s a good start point but it is not reliable information.Don’t worry…I am going to teach you how Realtors asses the real home value.
First of all what are websites like Zillow? Well they are nothing more than public sites (non Realtor) that offer computerized values and they can either be way under priced or way over priced. Remember Texas is still a non disclosure state which means when a house sells Realtors do not post the information to public websites like zillow or any similar sites. Our board of MLS aka Multiple Listing Services requires us to keep this information private between real estate agents and appraisers so zillow will not have your real homes value.
Secondly your tax assessment value is for tax purposes only. That’s why it’s called an assessed tax value.Back to the question, How to determine what your home is worth?
Better yet who determines property value? It’s not Realtors. No, the one who determines value is YOU, the market. In other words if a house down the street similar to yours is for sale at $300,000 but the buyer pays $350,000 more than likely your property value will be closer to $350,000. Keep in mind there are other factors that play a role in price such as the condition of your home and any improvements.
In summary home buyers play a vital role in market value. Theoretically, a house is worth what a buyer is willing to pay for your home.
If you are thinking about selling and are curious what your home would sell for right now I or any Realtor of your choice could provide recent sold properties in your neighborhood to help you determine your homes worth for free.
Simply click HERE to get started.
Should You Hire A Real Estate Agent For New Homes?
Most buyers walk into the new home builders office alone to begin the quest for a brand new construction home. Is that really the smartest choice?
Many buyers assume that when they cut out the real estate agent they are saving money. Is that really true? The short answer is NO. Whatever builder you hire will not give you a discount for walking in alone. Instead the buyer ends up walking into a professional sales guru, not a real estate agent who works for the builders behalf. Yes, the sales agent is typically not a licensed agent and does not work for the buyer.
What would be the smart choice? Call up a real estate agent familiar with the area and who specializes in new home construction. The great new is that the builder will pay for your real estate agent who will be representing you in your best interest.
What are some problems buyers face when tackling buying alone?
- No financial knowledge beforehand.
- Easily get swooped into the first builder they meet.
- No inspection, no guidance.
- No clue of the builders financial capability to finish the build
- Uncertain about the builders quality of construction.
- Unsure what to ask the builder
- Many more...
If you have any questions reach out. I would love to hear from you.
Janet Dávila is a Real Estate Broker and specializes in new home construction.
to get your free home value report. There are no obligations.
This home value report is provided by Janet Davila Broker Owner of JD Realty Advisors, LLC. 12 Years of experience as a Real Estate Agent.