A: Marketing and Price

Q: What two items will cause a home to sell rapidly?

Setting a personal best, recently, I received an offer to purchase one of my listings within three and a half hours of the home becoming active on the market. And, while that could seem a few hours longer than necessary, understand that I do not make a habit of representing buyers on my sellers’ properties. This means that another agent, representing a buyer, submitted an offer within three and a half hours of my listing going live.

Pricing

The largest factor in the time to procure an offer is price. Hands down.

We priced this home at what we felt the market value for this home was, in the current market. We examined the recent sales in the area (no more than 3 months old and within a mile radius of the subject home) and determined our listing price. Note, the list price actually serves as the first price in negotiating a sale. Often, folks believe it is the buyer that begins the negotiation. However, when a seller determines they would like to sell their home, they tell the market, in essence, “We believe our house is worth ____.”

Marketing

A factor in selling a home is giving the potential buyers of the property the opportunity to experience the home; either in person or via the internet. So marketing the home needs to take place where most of the buyers are looking for their next home: online.

Using a combination of hi-resolution, HDR still photos, video and a single property website, my listings get an exposure online like none other. My goal, with every listing, is to make the off-line and on-line experience as similar as possible. It is jarring, when the experiences differ widely. It almost feels as though something is being hidden or not addressed. [Click the link for more on marketing your home for sale.]

Can homes be sold with pricing outside the market range? Yes.

Can homes be sold with little to no marketing? Yes.

In both instances, however, the sellers are extending their time on market and creating the impression that they are really not that serious about selling.