Page 16 - Meet Bill and Boulevard Realty | How We Intend to Market Your HOme

Importance of

Intelligent Pricing

Pricing your home correctly from the very start
is the single most important thing you can do to
ensure a successful sale - one that is quick and puts
the most money in your pocket. Buyers are wary of price-reduced property, thinking
something might be wrong with it or that it may
Homeowners are often tempted to set the initial still be priced too high.
list price higher than fair market value because
they think they can simply lower the price later if Statistics clearly indicate that the longer a proper-
the property doesn’t sell. Most people don’t realize, ty is on the market, the lower the final sale price
however, that setting the price too high in the will be. Properties that sell in the first four weeks
beginning can drastically increase the time it takes typically achieve a sale price within 1.9% of their
to sell and typically achieves a final sale price that fair market value. This discount increases to 3/6%
is well below market value. after four weeks on the market, 5.6% after 12
weeks, and 8/9% after 24 weeks! By pricing your
The higher the list price, the more buyers will home correctly from the start, you greatly increase
automatically exclude your property from consider- your chances of selling your home faster and for
ation. By pricing your property at fair market value, more money.
you increase the number of potential buyers.
As an expert in your neighborhood, I have the
A listing generates intense interest during its first knowledge and experience to choose the best list
two weeks on the market, but activity drops off price for your property. Our goal is to maximize
by more than 80% in the third week and beyond your proceeds while minimizing the time it takes to
- subsequent price reductions notwithstanding. A sell your property.
property that is priced too high will not get the
necessary attention during this critical period of
peak activity.

Price your home 15% above Fair Market Value
and 10% of prospects may buy your home.

Price your home 10% above Fair Market Value
and 30% of prospects may buy your home.

Price your home at Fair Market Value and 60%
of prospects may buy your home.

Price your home 10% below Fair Market Value
and 75% of prospects may buy your home.

Price your home 15% below Fair Market Value
and 90% of prospects may buy your home.