Pricing It Right At The Beginning

Every day we see listings that have been on the market for extended periods of time.  Six months, one year, even five years or more.  At listing time sellers are hopeful for a quick sale, but most try to prepare themselves for the reality of longer listing periods.

So when a sales contract goes together within two weeks of being listed, it catches your attention.  But when THREE contracts come together within two weeks being listed, it really makes you take notice.

In the last week or so, I've had three listings sell within two weeks of the seller signing the listing agreement.  What do they all have in common?  Gold-plated door knobs?  A live-in housekeeper included in the price?  No.  They were all priced correctly for the market at the beginning of the listing.  Even better than the timeframe in which the listings sold, all three of them sold at only 4% or less off the listing price!

A property's first impression on the market is important because there's an electric type of excitement and buzz that comes with a listing being new on the market.  After 30 days or so of marketing time, that buzz quiets down significantly.  It's important to make the right first impression, not only in the photos and advertising write-up of the home, but also in the pricing of the property.  A listing that is over-priced for the market and competition is counterproductive to the listing being sold.

Think about the savings of a home selling quickly - no extended mortgage payments, no taxes or utility expenses while waiting for it to sell, and no stress from keeping the home picture-perfect for showings.  I have found that in this market, the sooner it sells - the better the price.

Making sales happen,

Mike Street Team

Mike Street Team

Associate Broker
Contact Me

Blog Archives