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Pricing Homes the Old Fashioned Way
<ul><li>Qualifying phone questions to obtain a listing </li></ul><ul><ul><ul><li>What upgrades have you completed? </li></...
<ul><li>What type of Pricing Strategy are you thinking of implementing? </li></ul><ul><ul><ul><li>Price and terms are the ...
<ul><li>Getting a commitment from the Seller to let them give you a tour of their home </li></ul><ul><ul><ul><li>Getting t...
The Public Records Systems Will Give you a Good Start <ul><li>Determine the square footage </li></ul><ul><li>What did the ...
Prepare a CMA with MLS Comparables <ul><li>Obtain all the current listings and time on the market </li></ul><ul><li>Break ...
Compare Neighborhood Amenities <ul><li>Proximity to schools </li></ul><ul><li>Pools, tennis, walking paths </li></ul><ul><...
Upward Adjustments <ul><li>Light, white and bright </li></ul><ul><li>Open space </li></ul><ul><li>Extra garage </li></ul><...
Downward Adjustments <ul><li>Interior condition </li></ul><ul><li>Exterior condition </li></ul><ul><li>External Factors </...
Downward Adjustments <ul><li>Size of lot </li></ul><ul><li>Facing North or South </li></ul><ul><li>Craftsmanship of struct...
The Seller Needs <ul><li>Third Party Buyouts </li></ul><ul><li>Move Up Sellers </li></ul><ul><li>Internal Needs to Sell </...
Be Prepared to Answer the Obvious Objections <ul><li>I want to talk to another company about their services </li></ul><ul>...
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Pricing homes the_old_fashioned_way

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Pricing homes the_old_fashioned_way

  1. 1. Pricing Homes the Old Fashioned Way
  2. 2. <ul><li>Qualifying phone questions to obtain a listing </li></ul><ul><ul><ul><li>What upgrades have you completed? </li></ul></ul></ul><ul><ul><ul><ul><li>Age of carpet </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Wall Paint Color or Wallpaper Colors </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Kitchen Upgrades </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Bathroom Upgrades </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Appliance Upgrades </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Mechanical Improvements </li></ul></ul></ul></ul>
  3. 3. <ul><li>What type of Pricing Strategy are you thinking of implementing? </li></ul><ul><ul><ul><li>Price and terms are the two parts of a Pricing Strategy the seller may implement. Be open and creative. </li></ul></ul></ul><ul><ul><ul><li>How did you arrive at that price? </li></ul></ul></ul>
  4. 4. <ul><li>Getting a commitment from the Seller to let them give you a tour of their home </li></ul><ul><ul><ul><li>Getting to know your home is critical to our marketing success, can you give us a preview of your home today? </li></ul></ul></ul><ul><ul><ul><li>Once in the home, get the </li></ul></ul></ul><ul><ul><ul><li>seller to talk about their </li></ul></ul></ul><ul><ul><ul><li>improvements </li></ul></ul></ul>
  5. 5. The Public Records Systems Will Give you a Good Start <ul><li>Determine the square footage </li></ul><ul><li>What did the sellers pay for the home </li></ul><ul><li>Check the assessed value </li></ul><ul><li>Identify the current taxes </li></ul><ul><li>Determine any special assessments </li></ul><ul><li>Know the school boundaries </li></ul>
  6. 6. Prepare a CMA with MLS Comparables <ul><li>Obtain all the current listings and time on the market </li></ul><ul><li>Break up the sold comparables in six month increments to give you a trend </li></ul><ul><li>If available, list all under contract as comparables </li></ul>
  7. 7. Compare Neighborhood Amenities <ul><li>Proximity to schools </li></ul><ul><li>Pools, tennis, walking paths </li></ul><ul><li>Access to shopping, business parks and professional services </li></ul><ul><li>Area restrictive covenants </li></ul>
  8. 8. Upward Adjustments <ul><li>Light, white and bright </li></ul><ul><li>Open space </li></ul><ul><li>Extra garage </li></ul><ul><li>4 Bedrooms vs. 3 Bedrooms </li></ul><ul><li>Upgrades buyers are willing to pay extra for, i.e. air conditioning, decks etc. </li></ul>
  9. 9. Downward Adjustments <ul><li>Interior condition </li></ul><ul><li>Exterior condition </li></ul><ul><li>External Factors </li></ul><ul><ul><ul><li>Busy street </li></ul></ul></ul><ul><ul><ul><li>High wires </li></ul></ul></ul><ul><ul><ul><li>Commercial development </li></ul></ul></ul><ul><ul><ul><li>Non-conforming land use </li></ul></ul></ul><ul><ul><ul><li>Make-up of subdivision </li></ul></ul></ul>
  10. 10. Downward Adjustments <ul><li>Size of lot </li></ul><ul><li>Facing North or South </li></ul><ul><li>Craftsmanship of structure or upgrades </li></ul><ul><li>Seller’s urgency to sell </li></ul>
  11. 11. The Seller Needs <ul><li>Third Party Buyouts </li></ul><ul><li>Move Up Sellers </li></ul><ul><li>Internal Needs to Sell </li></ul><ul><ul><ul><li>Growing Family </li></ul></ul></ul><ul><ul><ul><li>Divorce </li></ul></ul></ul><ul><ul><ul><li>Downsizing </li></ul></ul></ul><ul><ul><ul><li>Job Transfer </li></ul></ul></ul>
  12. 12. Be Prepared to Answer the Obvious Objections <ul><li>I want to talk to another company about their services </li></ul><ul><li>I have a friend in the business I want to talk with </li></ul><ul><li>Another company will charge less commission than you </li></ul><ul><li>The price you gave me seems too low </li></ul>

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