Home sellers never have a second chance for a first impression.
There are fewer statements more true than this one in real estate. First impressions take place online long before buyers ever visit your home. Buyers who do visit have shopped, compared, and will buy based on value. Overprice, and you’ll never know that online home buyers are eliminating your property.
Whether your property is being shown and you’re not receiving offers, or your property is overpriced and being eliminated online, overpricing results in frustration. Avoid roadblocks by understanding how the market establishes value.
Understanding the 30s of Selling
Why +10 Equals -70
Marketing and pricing your home well are critical to your success. In fact, setting the right asking price is imperative! Statistically speaking, even pricing at market value doesn’t guarantee exposure to 100% of home buyers. Overprice by even 10%, and only 30% of house hunters will consider your home at all before eliminating it online.
Why Your Listing Time Matters
Your first 30 days on the market are critical for maximizing the number of your home showings. As time passes, you’ll receive fewer and fewer showings. This happens sooner than you think—your showings will slow down dramatically after only the second week. In order to capture your best buyers, make sure your home is ready for viewing as soon as it hits the market. Your Beverly-Hanks agent helps prepare your home for showing from Day 1.
Why You Need to be Ready to Sell Fast
Every 30 days your property spends on the market, you’re walking away with less money at the closing table. As time passes, you’ll need to discount more and more to attract new buyers. Concentrate on your marketing efforts as soon as your home is listed to avoid this dilemma. At Beverly-Hanks, we help set you up for success from the start.
Study Your Competition through the Beverly-Hanks Market Research Center
Determining market value of a home can be difficult. In the greater Asheville, Waynesville, and Hendersonville areas, Beverly-Hanks helps our clients sell more than 160 homes sell each month, providing you and your agent a lot of market data to consider. Beverly-Hanks associates combine their experience with comprehensive data from our Market Research Center to establish a price range within which your home is likely to sell.
Our agents help you identify the components of value and determine how to best configure each to obtain the highest possible market price. Factors that contribute to your home’s value include location, size, style, and condition. Each component incrementally adds up to the price a buyer is willing to offer.
In other words, neither sellers nor real estate agents determine a home’s worth—the market determines your property’s value.
Since each piece of real estate has an inherently unique location, sellers need to compare their home with your neighborhood competition: homes on the market, properties that have recently sold, and properties that have been rejected by the market (homes that failed to sell). By using our “Compare” tool, you can study the competition in your neighborhood and see how other properties compare to yours. All of the details for both listed and sold properties are available, helping you effectively position your home against similar properties.
After considering all of the market data, you’ll need to select a listing price from the range you and your agent established. The price you select must encourage as many home buyers as possible to view your home online and, ultimately, in person. In real estate, there’s a very simple formula for ensuring your home’s sale generates the most amount of money for you.
The Simple Formula for Selling Your Home for the Most Money:
Price Your Home to Sell Now
Set up a “My Account” at beverly-hanks.com and you’ll be able to access the very same information our agents use on a daily basis. For as long as your home is on the market, we’ll provide timely updates so you stay abreast of changes in market conditions. If necessary, we’ll recommend refinements to your position to account for recent sales and new competition.
Learn how to get your home more views, more showings, and more offers—which means more money for you! Request a Beverly-Hanks Seller’s Guide and Workbook from your real estate agent today!