No recommended retail

On 20 May 2014 in Selling, Tips

Property is one of those rare things that has no recommended retail price. I have seen very similar homes located side by side sell within weeks of each other for completely different prices. Why? Because one seller followed a proven formula and strategy that enhanced the property’s perceived value while the other seller made no effort, sold for 10% less and was on the market twice as long.

Real estate has no recommended retail

So what makes one property more attractive than another? Well, it all comes down to the staging of the home. A well presented property is twice as attractive because buyers can easily see themselves living in the property. I call this Mentally Moving In, and it’s a very important strategy in the ‘sell for more’ process.

In fact the question I like to ask the most is ‘Do you see yourself living here? By asking this simple question I can quickly sort those who are just ‘looking’ from those than can see themselves ‘owning’ the home. As the agent, I now have something the buyer wants and things will usually develop very quickly from there.

Regardless of where your home might be, or the strength of the market, applying these proven techniques will guarantee you better results.

  • There is no recommended retail price on real estate. The price of your property will be influenced ultimately by supply and demand, and the skill of your agent. This being said, there are several ways that you can help to influence the outcome of the sale to ensure that you get the best possible result.
  • Most buyer interest will come in the first few weeks after a property comes on the market. This is what we call the peak interest period, or golden window.
  • Due to the ‘golden window’ effect you only have one chance to hit the market correctly. You want to be attracting the highest buyer interest from day one. (Remember, the best offer you receive may come early on in your selling campaign).
  • Good quality photos are critical to your marketing success. We live in a digital age where the content and clarity of a photo has never been more important. You need to capture the buyer with your marketing photos otherwise you will never get them through the door. 
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