| You probably have lots of emotion "built in" to your | | | | aggressive marketing strategies to make sure your |
| house. Maybe you fixed it up, or you raised your | | | | home sells. In a red-hot market, the MLS is probably |
| children there. Your home is your "special" place. | | | | the only exposure your home will need. However, if |
| However, when it's time to sell, don't let emotion play | | | | the market is anything less than red-hot, your agent |
| a roll in your pricing decision! | | | | will need to print flyers and introduce your home to |
| Many sellers don't understand that overpricing can | | | | other agents in his or her office, as well as other local |
| actually result in your getting LESS for your house | | | | sales offices. Also, exposure in home magazine ads, |
| than if you had priced it correctly in the first place. | | | | classified ads, and the Internet will help generate |
| Knowledgeable agents and buyers often won't bid on | | | | demand for your home. Make sure your agent uses a |
| an overpriced home. By the time you "wise up" and | | | | powerful marketing program! |
| reduce the price to where it should have been priced | | | | The Dangers of not "packaging your home" for sale! |
| in the first place, many of your best prospects will | | | | Curb appeal is everything! You can take two identical |
| have bought other houses. This decreases demand | | | | homes next door to each other, both for sale. The |
| for your now properly priced home! The problem is | | | | first home has a cluttered yard with tall grass and |
| exacerbated if you placed your home on the market | | | | weeds. The shutters on the house are chipping. |
| in the spring, it sat on the market "overpriced" | | | | There are toys in the yard. When you open the |
| throughout the summer, and now that you've | | | | screen door, it's half way off the hinges. The inside is |
| reduced your price, the market has slowed. | | | | fairly cluttered as well, and the wall could use a coat |
| Also, consider that agents tend to steer buyers | | | | of paint. On the other hand, the owners of the home |
| away from homes that have been in the Multiple | | | | next door paid $300 for a landscaper to mow the |
| Listing Service for long periods of time. Agents and | | | | lawn, trim the shrubs and clear the gutters. Inside, |
| buyers become suspicious that something is wrong | | | | they added a fresh coat of paint and cleared up all |
| with your property if it didn't sell relatively soon after | | | | the clutter. Again, the two homes are identical. Both |
| it went on the market. It's important to price it right | | | | owners paid the same amount for the same model. |
| the day you put it on the market! | | | | Guess which home is going to fetch more money? |
| Also, consider what you could have done with the | | | | Don't be lazy. A few days of labor and minimal |
| profits from the sale of your home if you had priced | | | | investment can make the difference between your |
| it right. Suppose you priced it right and sold relatively | | | | house sitting on the market and selling the day you |
| quickly, and invested that money in a rising stock or | | | | put it on the market. Cosmetic appeal is essential! |
| bond market. On the other hand, suppose you | | | | Finally, don't negotiate foolishly! |
| overpriced your home, and after several months, had | | | | Don't appear overly eager when you negotiate with |
| to reduce it to where it should have been priced in | | | | buyers. If you appear too eager or too anxious to |
| the first place. Even worse, the house still isn't sold! | | | | make a deal, buyers may become suspicious. Worse, |
| You get the picture. | | | | they may lower the offer because they think you're |
| The Dangers of a Lack of Exposure | | | | desperate to sell your home. Stay cool! Also, don't |
| It's a fact that most real estate transactions occur | | | | appear too tough. A good deal can fall apart if buyers |
| between buyer's and seller's agents. Buyer's agents | | | | find you too rigid to work with. |
| typically find properties for their clients through the | | | | You probably have a lot of emotion invested in the |
| Multiple Listing Service. Not being in the MLS makes it | | | | house, which can certainly get in the way of |
| extremely difficult to get buyers through your door. | | | | effective negotiations. The best thing you can do is |
| If your home is not in the MLS, you're off the radar! | | | | let your real estate agent handle your negotiations. |
| Hire a good real estate agent, and get into the MLS! | | | | She or he is emotionally detached from the home |
| Also, make sure your real estate agent uses | | | | and has strong negotiation skills. |