Smart Pricing
Selling a home quickly and for the highest possible price is a balancing act: Priced too high the home won’t sell, but when priced too low you may leave money on the table. If a mistake is made the Seller could lose ten’s thousands of dollars! So how does hiring StynesGroup make the difference, this page should clearly point out our advantage to you the potential seller.
The Comparative Market Analysis (CMA)
With this service, we review all the factors that will influence the value of your property to recommend a price that will attract the maximum number of buyers. Our CMA is unique in that it’s based on local sales in addition to a detail site visit to your property before we quote a number. With the estimate we also make several suggestions of ways the seller can increase the value of their house without spending thousands of dollars.
By the end of our CMA, you’ll have a checklist of strategies to sell your home for the highest value possible. Putting this kind of attention into setting the price and recommending a target buyer for your home will shorten the sales timeline. For more information contact contact StynesGroup for a free CMA on your home.
Finding the Right Starting Price is Key
Studies show that price is the most important factor to any real estate marketing campaign. That’s why it’s imperative that you work with a REALTOR who knows the local market as well as that person needs to know how to attract buyers from across the world. With the Internet the buyer of your home could be living across the street or as far away ten time zones; therefore, it’s key we price your home to represent fair market value to assure its seen by as many buyers as possible.
Secondarily, the real estate market is now more transparent than ever. The days of the “pocket listing” are behind us. When an offer is made it is reflective of local market statistics, the cost of money, school performance and the job market. So you’ll often hear the line which often becomes true, “The first offer on your home is your best offer”. The seller may not get a second chance to see an offer as good as the first offer.
The figure below illustrates that only homes priced at market value (or below) appeal to the largest group of buyers. Accurate pricing your Silicon Valley home reduces the prospective buyer pool by more than 50 percent. Please note just being off by 10 percent of the target price can reduce the chance of sale of your property by as much as 20%.
- How correct pricing impacts sales price
Time on market can also significantly impact the value of your home. Your property will attract the most interest from real estate agents and Buyers when the property first appears on the market, with activity decreasing as time on market increases. As the chart below shows, the most favorable time to generate a sale on your Silicon Valley home is between three and seven weeks after the home is on the Multiple Listing System (MLS).
- Time on the market can influence the sales price
To learn more about our services, and how we stack up against the opposition, please explore our Sellers menu to find our why we’re different. When you’re ready to talk more about your pending home sale, contact StynesGroup.
