Are you're preparing to sell your home in Windham or southern NH this Spring? There is no more important matter to consider, than establishig a pricing strategy for your home. We are experienced southern NH Realtors that know the Windham market. What suprises us is how few people take advantage of the free market value reports offered by area real estate agents. Did you know that over 60% of home-sellers list with the first real estate agent they talk with or call. Did you also know that there are real estate agents who "buy the listing" by taking a listing they know is way overpriced. They do this so they can use your listing to procur buyers for other homes. With an investment as large as your home, why wouldn't you ask for more than one opinion of value, just to make sure you have a consensus on the worth of your house? And, why wouldn't you want to hear the marketing proposals of several Realtors. There is many differences in how agents and companies market their home listings and it makes a difference in how fast and at what price your home eventually sells for.
How do Realtors go about establishing a list price on your home?
The correct selling price of a home is the highest price that the market will bear. The market approach is based on the premise that a prudent, informed person will pay no more for a home than it would cost to purchase a comparable substitute. To determine the correct asking price, we have provided you with a comprehensive market analysis of comparable properties that have been recently offered for sale in your community. This analysis is based strictly on homes that can be considered similar to yours, and has been especially prepared for your property.
This market analysis is divided into three categories:
1. Similar properties that are currently listed (the competition).
2. Similar properties that are currently pending.
3. Similar properties that have recently sold.
By carefully studying the comparable property locations, features and terms under which they were offered, we can develop a clear picture of the potential market for your property. By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from. We can be certain we are not under pricing the property. By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months. This is the acid test used by lending institutions to determine how much they will be willing to lend a buyer for your home. By looking a pending property, the most recent sales, we can look for possible pricing trends either upward or downward.
While we naturally want you to receive top market value for your home, we can agree that there’s a point where the pricing would be too high. By carefully studying the sales record we can determine a price point that will both attract the buyers and get you the maximum possible price in a reasonable amount of time.
When a new listing comes on the market their is a high level of excitement on the part of potential buyers and real estate agents. This is what's known as the new listing Buzz. If you come on the market at a price that is too high, your listing will not generate the buzz, and will be passed over for listings that do.
Your home will generate the most excitement when it first debuts. For this reason it is very important that your home is priced right and shows great the day you open the door to potential buyers. As the graphic below indicates, the best offers often come when a property is newly listed — if priced to high, it’s difficult to create the momentum necessary to sell your home at the highest price in the least amount of time. .
· It reduces the number of showings.
· Fewer buyers are attracted, and few if any offers received.
· Marketing time is prolonged, and initial marketing momentum is lost.
· It attracts lookers not legitimate buyers.
· It implies that you aren’t motivated to sell.
· It helps the competition look better.
· If the property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan.
· You may ultimately have to drop your price below market value in order to sell.
Make no mistake, we want you to get the best possible price for your property. However, an asking price that is beyond market range can adversely affect the sale of your property and the price you eventually receive. No amount of advertising, or web-based marketing strategies can overcome a listing price that is just too high.
If your ready to sell your New Hampshire home, why not take advantage of our offer to prepare a market value report on your home?
