Your home holds sentimental value, but when it comes to selling, the emotional attachment may differ from its market value. As a realtor, I stress the importance of realistic pricing based on factors like Location, Square footage, Lot dimensions, Age of the property, and Quality
I help my clients find the perfect pricing and positioning within the market in order for them to achieve the highest market value.
Overpricing is risky and can deter buyers, potentially causing your home to linger on the market. I prioritize helping clients find the right pricing strategy for the highest market value. My services, aimed at a stress-free sale, include market analysis, understanding market conditions, and creating a pricing strategy.
Avoiding overpromising, I advocate for honest pricing to prevent a prolonged listing. Many agents will agree to list someone’s home for too much to avoid a tough conversation with homeowners or to get the business. Once they do this, they’ll convince the owner to reduce the price of the home over time.
The 99 effect, mirroring retail psychology, can attract more buyers within specific budget constraints.
The bottom line is that you can ask for anything that you want for your house, it's your house! You can put it on the market and not take an offer if it's not to your liking. We're here to help you price it for what the market will bear, and to create a stress-free sale.
Pricing psychology and strategy Would you rather have your buyers bid up your homes price, or negotiate down. Strategies will differ for different homes at different prices, however given our experience with the multiple offer strategy we do find it favourable for our sellers. Take away the downside risk and build in the upside potential. You get to pick your preferred closing date, and set the tone for offer expectations. It works. Most of the time the median is at market value range and there will always be a couple outliers, and thats where you benefit!We do this a lot so trust our experience! What we find is that 30% will be at around the asking price. The next 30-40% will be at around market value based on the recent comparable sales. The last 30% will be at the top at a number we did not expect. These are the offers we then get to negotiate with to ensure max dollars
In summary, the key considerations include capitalizing on early activity, monitoring days on the market, and adjusting prices if needed. The 24-hour irrevocability rule and listing on Thursday or Friday optimize interest. A 21-day rule prompts a new pricing strategy if there's no offer. Proper pricing, not just quick sales, ensures the best return on investment for sellers.
If you priced your home wrong at the beginning, and the listing is getting stale, adjust the price! ...and...if you believe that the listing price is low, you and I will know almost instantaneously. This is why we protect you with a 24-hour irrevocability on any offer that comes in, to ensure we're getting as much interest as possible and ensuring we're letting everybody to the table. The earlier the offers come in the more likelihood of them being close to asking price, or above. This is why listing on a Thursday or Friday is beneficial.
We have a rule in this market: whichever comes first, 21 days or 15 showings without an offer, we need a new pricing strategy. (this is for typical homes in typical markets, where the Days on Market average is (28-35 days)
The “BUZZ” surrounding new listings posted for sale happens in the first 4-5 days
Also when the time comes to look at final calculations this is a good resource
https://www.buschteam.ca/b/blog/sellers/calculating-your-net-proceeds.html