1.Price your home aggressivelySetting the right price for your homeis the single most important decisionyou will make when you decide to sell.Go too high and you risk turning offevery buyer in the marketplace, go toolow and you leave money on the table.One simple but powerful technique forpricing your home aggressively is to spendthe day looking at your competitors homes. By doing soyou will be seeing the world through the buyers eyes. Betough and honest with yourself. Compared to thecompetition what would be a price that would positionyour home as the best value proposition for buyers inyour marketplace?
2.Use price pointsBuyers dont walk into anagents office and announcethey would like to see homespriced at a specific price like$227,900. Instead theyask to see homes between priceranges that are separated by five to ten thousand dollarincrements. Because of this, consider setting your pricenear one of these natural price points. For instance aprice $229,900 would probably net you exactly the samenumber of buyer inquiries as a price of $227,900, butmoving your home down to $224,900 (the next pricepoint down) would widen your potential buyer pool.
3.Consider value range marketingAnother pricing technique that may be the ticket to moreshowings and more offers is to use value rangemarketing. Value rangemarketing is a pricing techniquein which you choose a listing pricebased on what you would sell fortoday if a buyer wrote you a check.You then choose another lower price –one that you wouldnt reject if offered but would use as astarting point negotiate towards some middle ground. Soinstead of listing your home at a specific price of$496,000, you list the home between $459,000 and$496,000.
4.Offer a bonus to selling agentsThe Realtor who brings a buyerto your home is typically referredto as the selling agent or the buyersagent. In a market crowded withInventory many sellers find it wiseto provide an incentive to motivatethese agents to show their home more frequently.While you may cringe at paying real estate brokerseven more money, the fact is it may provide just thepush they need to work a little harder to sell yourhome for top dollar.
5.Hire an aggressive listing agentNot all listing agents are createdequal. To find an aggressive fulltime agent, take the time toresearch the market, talk tofriends, neighbors, and colleaguesabout who they recommend, and interviewmultiple realtor before making a hiring decision. Inaddition, be sure to come to an agreement about aspecific, documented marketing plan before signinga long term listing agreement.
Randy BettInvestment Realtor/Author/InvestorReal Estate Professionals Inc.Better Group Real Estate202-5403 Crowchild Trail NWCalgary, AB T3B 4Z1Phone:403-774-7464 Ext:1Fax:403-208-0082Toll Free fax:888-711-6801