Tucson Home Sellers Pricing for Maximum Exposure.
November 19, 2006
Post Tags: pricing-for-maximum-exposure , pricing-in-a-buyers-market , tucson-home-sellers , Tucson-MLS
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
I just read a post Nickle and Diming Sellers at The Real Estate Guide. It is right on the money when it comes to pricing your home. There should be a lot of consideration that goes into pricing your home to go on the market. Unfortunately, quite often, the only consideration is how much the seller wants to take away from the sale.
“I need this much for my new home.” “I want to make at least this much” and how did they come up with that number, usually they just like it, or it is more than their neighbor got a couple of months ago and my house is better.
One of the most important things in pricing your home, especially in a buyers market, that too many sellers overlook, is getting maximum exposure of your home to potential buyers.
The majority of buyers start and some even finish their home search on the internet. When you search for a home on the net one of the things you put in to limit the search is price from - price too. In the nickle and dime example the home is priced at $304,900. This puts the home just over the $300,000 cut of for many searches, and if they are searching the $300,000 to $350,000 range you have one of the worst looking homes in the search. There are many more people searching the $250,000 to $300,000 range than the $300,000 to $350,000. It might be the Tucson MLS search for the pubic, or the Agent MLS search, Realtor.com, or Trulia, it doesn’t matter, the process of what comes up on the screen is the same.
We have a listing right now priced at $354,000. It isn’t getting anywhere near the hits it would get if it were $350,000 or under. It falls outside the search parameters of many buyers in our market right now and when it does come up, it is on the low end of the search with homes closer to the $400,000 price point looking much better.
We never price a home to just sit. I don’t know a single listing agent that want to have a listing just sit on the market. We want to get the most we can for our sellers. Sometimes you actually have to ask for less to get more; more exposure, more offers. When pricing your home be sure to add consideration of Maximum Exposure to the process. You and your agent will be glad you did.
November 29th, 2006 at 8:16 pm
I was link chasing on pricing and /blush I’m getting quoted. You may also like http://therealestateguide.blogspot.com/2006/11/product-vs-commodity-and-importance-of.html
Nice site.
November 29th, 2006 at 8:26 pm
Athol,
Thank you. It is nice to be found. I read your site and comments around the blogsphere. Have a great trip. : )