Price Points Important When Selling Your Home.
When putting your home on market and setting the price points, it is important to make sure that you are working with an experienced agent. The right real estate agent will know exactly how the property needs to be priced in order to find the right buyer for your home. All agents will do a Comparable Marketing Analysis and discuss a price with you, but an experienced agent will help you put the home into the correct price points, increasing exposure.
A less experienced agent from another company did a CMA for her Seller client and put the $350,000 home onto the market based on her figure work – which is actually the right price for the property. In order to make the property sound more appealing and in discussion with the Seller, they priced the home at $349,900. One would think that is a good idea and give kudos to the agent. However, an experienced agent would never have done that. Here’s why…
When buyers search for homes, they search in price points – $300,000 to $350,000 or $350,000 to $400,000 etc. Can you spot the inexperienced agents downfall?
The Seller is prejudiced by this ridiculous situation. His home priced at $349,900 is only falling into one of the price points – the $300,000 to $350,000. If the agent had priced it at $350,000 the home would have had twice the exposure bearing in mind the home would appear in both the buyer search bands.
That would be a great marketing tactic for a retail store, but not a great idea in real estate.
When considering Selling your home, ask your real estate agent if what they think about “retail store” pricing. If they think it’s a good idea to price end in a 900 then you may want to interview a new realtor.
At Gaddy Group Carolinas – we have the experience to know about pricing and marketing your home. We are experts in our field and we know how to get you the maximum exposure.
Please give Michael a call 704-975-4651 or email Michael@MGaddy.com