Buyer's Market: The supply of homes fon the market exceeds demand.Understanding Market Conditions:
Seller's Market: The number of buyers wanting homes exceeds the supply or number of homes on the market.
Balanced Market: The number of homes on the market is equal to the demand or number of buyers.
Pricing Your Property
The single most important decision you will make with your Royal LePage Realtor is determining the right asking price for your property. Once you`ve achieved a realistic sale price, you can count on your property being professionally marketed and promoted to bring more buyers to your door. You can also expect to sell your home for the best possible price in the seast amount of time.
The Benefits of Pricing Right
1 Your property sells faster, because it is exposed to more qualified Buyers.
2 Your home does not loose its "marketability"
3 The closer to market value, the higher the offers.
4 A well-priced property can generate competing offers.
5 Realtors will be enthusiastic about presenting your property to Buyers.
Determining the Value of Your Home
Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:
The Result of Overpricing
Many Sellers beieve that if they price their home high initially, they can lower it later.
Often, when a home is priced too high, it experiences little activity. Gradually, the proce will come down to market value, but by that time its been for sale too long and some Buyers will be wary and reject the property.
On occasion, the price is dropped below market value because the Seller runs out of time. Ther property sells for less than it's worth!
Missing the Right Buyer
You may think that interseted Buyers can always make an Offer, but if the home is over-priced, potential Buyers looking in a lower price range will never see it.
Those who can allord a home at your asking price will soon recognize that they cna get better value elsewhere.
The Importance of Early Activity
As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the crucial time when Realtor and potential Buyers sit up and take notice.
If the home is overpriced, it does not take long for interested parties to lose interest. By the time the price drops,a majority of Buyers are lost.
Agree on a Marketing Plan
Your propery is not something you sell every day. In fact, for many people itis their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly, a plan is needed.
Your Royal LePage Realtor Anna Belyntseva can prepare a personalized plan for you containing all activities intended to market your property. At Royal LePage, your property will be aggressively promoted through Royal LePage own property advertising publications and Internet site, other Royal LePage offices and Realtors (more than 800), Anna`s website, the MLS information Library and mailings to potential Buyers in your area.