Posts Tagged ‘asking price’

Perfect Pricing: the Sweet Spot for Bedford Listings

Figuring out the perfect pricing for any Bedford home for sale would be easier if there were a way to confirm past instances that hit that mark precisely. But that can’t be done. It’s the nature of the beast: it’s simply not possible. Even if a comparable Bedford home’s asking price resulted in being sold immediately at that exact amount, it only could have been priced perfectly. We can’t know that it wasn’t priced too low.

Even if the pricing on some Bedford home was quickly met and even exceeded—IOW, it resulted in a bidding —that might be evidence that it had been originally priced too low. Even that isn’t certain because the supposed underpricing resulted in a sale that was higher than expected, which is a perfect result. So perhaps that was the perfect pricing. You see the ambiguity.

So if you can’t ever determine what constitutes perfection in pricing—even after the books are closed on a given sale—then there is no way to guarantee a number will result in the maximum outcome. That’s why the whole issue of pricing any Bedford home is forever going to be an art (with as much science thrown in as possible). That being the case, getting the “science” part right is pretty important.

When it comes to pricing Bedford homes, it stands to reason that the mortgage lending industry would have put maximum effort into determining the most predictive residential real estate values: in other words, any Bedford home’s most realistic pricing. A week ago, one of the nation’s largest mortgage lenders offered their advice to homeowners. They acknowledged that while “we’re on an upward swing” in property values in general, it’s still important to get “a very accurate estimate of home value” to attract multiple buyers and avoid surprises during the sale process. Their three steps to discovering that:

Online search. Using the massive amount of data is a starting point for establishing a baseline.

Knowing the Market. It’s vital to measure your own house against those that are most similar to yours and on the market now. Visits to nearby open houses will offer the best opportunities to observe how similar homes are priced and marketed.

Calling in the pros. Ultimately, the do-it-yourself idea for home pricing seems to yield to what is available when the assistance of a real estate professional can be called upon—at least in the opinion of the other pros: the lenders. Rallying the in-depth data that current and historical comparable sales figures provide is persuasively the superior path, from their point of view.

Perfection in pricing might not be attainable—but if success in selling Bedford homes is a good stand-in, one way to achieve the desired end result is to seek out a professional with a proven track record like mine. Call me!

Joan Parcewski —CRS, MRP, CSHP, SRES, CBR, LMC, Realtor & Notary
978-376-3978   JParcewski@LAERRealty.com    OR    JParcewski@gmail.com
 
Licensed MA & NH    
Introductory Video  https://youtu.be/RrM4q17cjU0
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Why Consumers Still Need An Agent – A Reprint from Trulia

While there is no question that today’s consumer is computer savvy and uses the internet to find homes and make decisions on how much a house is worth, these points from Trulia (an online website for home listings) points out the important role that the agent still plays in the home buying and selling process:

 

In a world where the Internet makes marketing miracles possible and  home data seems to flow free, every once in a while you’ll hear of  someone attempting to buy or sell without an agent.

While some stories speak of success, they also reveal the time,  expertise, and energy that go into a sale and the indisputable benefits  of having an agent.

Here are four ways a recent story of an Australian owner taking charge of his property marketing showed that marketing and managing a home is a time-consuming  undertaking and why now, more than ever, smart consumers need to use a  real estate agent. The story was that, thanks to social media, a  homeowner sold his Californian bungalow for $A1.05 million, $135,000  above the asking price.

1) Online marketing takes time and expertise

According to  various Down Under news sites, the owner set up a website, blog,  Twitter feed, YouTube videos, and a Picasa photo page for the home.

This  story illustrates two things – both that online marketing works, and  that it takes hours of effort. This home sold above its asking price as a  result of the interest generated by a professional’s online marketing  efforts — Opray is a professional online marketer who spent many hours  every day promoting his home through these multiple channels. Most sellers don’t have this level of expertise or the time to spend on the  effort.

 

2) A home’s information alone is not enough – every home lives in a market

Opray was quoted in the National Business Review, “I know my house better than any agent. Who better to sell the house than me?”

This  comment is typical of someone who doesn’t realize that knowing about a  home is just the first step. The real key to moving a listing is knowing  how that home fits into the market – and only a professional brings  that kind of focus and real experience.

 

3) Showings and connections sell homes

From TheMoveChannel.Com: “Opray aimed to bring as many buyers to the home’s blog as possible, giving them a personal insight into the house.””

To  sell his property, Opray had to develop a following and create  connections online. This is easy for agents, who are already tapped into  a network of people buying and selling.

 

4) Even the smartest use an agent for expertise

Even with all of Opray’s social media efforts to help sell his home on his own, in the end he hired an agent.

 

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