AKA proper pricing! After all, isn’t this why you hire a hyper local agent to SELL your home?
When I meet with a prospective seller to discuss their goals, review the marketing plan in our confidential consultation of course determining a list price is an important step in the process. Would you be surprised to know that I don’t decide the price? Neither does the seller. Who decides the price? The market~ which changes daily!
To arrive at a current market price we look at many factors in our proper pricing discussion.
1) Relevant properties sold within the same school district in the last year.
2) Similar square footage, amenities and taxes.
3) Upgrades to the home and new features in the last 5 years.
4) Location of property compared to neighbors-corner lot, interior, busy street
5) Lot size, fenced yard, privacy, deck/patio, play space
6) Condition of the property-is it move in ready, does it need deferred maintenance, what would a buyer want to change when they buy it?
7) Timing and motivation for an ideal seller closing date.
8) Hyper local market conditions-DATA-what is the average market time for days on market, what is the current supply of homes, what % of asking price are homes selling? We discuss what’s happening and adjust our pricing based on this DATA.
9) What is our marketing strategy? We identify the profile of the ideal buyer for this home and customize our plan to attract that buyer. This includes being where the buyer is and that is online, using digital media marketing as well as print marketing.
10) Finally, but not least important is where to position the property amongst the other inventory that is not sold. This is an ART not a science so we tweak the price to attract the most interested buyer pool to give you as the seller the best advantage.
Are you ready for your own confidential consultation? Who do you know that could benefit from this proven strategy in the North Shore of Chicagoland. I’m your Northbrook Realtor, Caroline Gau.
