The Importance of Pricing Your Property Right
April 9, 2018 | Thomas Love
Many agents do not talk about it in such terms, but the truth, in my opinion, is that properly pricing your home when you decide to list it for sale, is the single most important aspect of the marketing efforts to get the house sold. All of the beautiful pictures the world, and the most artistic and compelling descriptions, while valuable, pale in comparison to the importance of finding and choosing the proper price. This is why we take the process of price setting so seriously here at Belle Époque.

When we set out to take a listing here at Belle Époque Realty, we are committed to obtaining the highest price possible for our customers and we love breaking sales records! We tailor our marketing, and our entire branding effort in that pursuit, but at the same time, we are realistic. We will always tell you up front if your goals are realistic or not, and what you might expect, and what the costs might be for pricing your property too high.

Many sellers have the mistaken notion that they can always set a high and ambitious price, and can come down later as time necessitates. These seller fail, however, to understand the importance of the passage of time on the marketing effort. The initial time that a listing is on the market is a golden opportunity that will never really return. It is a precious time period in which your overall marketing effort will be set. Will it be a success or a long and painful process?

You see, buyers, who are actively looking for a home in any market, will always gravitate towards listings that are new - that is, listings that have been on the market for less than 14 days. Quite simply, everyone is interested in what is new to the market. The thing is, and here's the rub, listings do not stay new for long. Once people take a look at your listing online, and make a decision that it is overpriced, they often do not return to it later on - this is because they are primarily focused on what is new to the market, and new properties are coming up all the time and overshadowing your listing. 
So later on, when it becomes clear that you missed the mark and priced hour house too high, and you decide to reduce your price, you will never has as many eyes on your property as you did when it had been on the market for less than 14 days. Never ever. This is a prime opportunity that has been lost.The first 14 days on the market are crucial, and this cannot be emphasized enough. Price your house too low, you will receive multiple offers on it, and buyers will bid up the price to some approximation of full market value. Sometimes even higher. Price it right, and you will get an offer or two within 10 days or so. Price your home too high, it will languish on the market - you may get showings, and may even get positive feedback, and yet you will wonder why you just aren't getting any offers. You will be utterly perplexed. You will reduce the price and this will spur some activity. But the excitement about your house has vaporized by now - people have been looking at your property online for a month or more now and are quite frankly bored with it - it takes a bigger and bigger action that is required to grab their attention the longer your house is on the market, you have to discount further and further to grab the fickle attention of buyers. Pretty soon, you have reduced to a price lower than you otherwise would have been at had your priced it properly from the outset, but this is required as the listing is now what we call in the industry as, "stale."

Contact us today for an honest, forthcoming, and effective market analysis of what your home is likely worth, and we can effectively brand your home to capture the most buyer attention possible so that we can obtain a price that is high as the market will bear. We will not leave a single dollar on the table for you. 904-328-2245.


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