If you are considering selling your Long Beach Island home during this sluggish market, you need to price your home right the first time!
A new listing should be correctly priced on the first day. A brand new listing is exciting, is shown more and, generally, SELLS FOR A HIGHER PRICE than older listings. Later, fair or not, prospective buyers begin to wonder why it hasn’t already been sold.
Price it right at the beginning, when most of your showings will occur. The prime marketing time occurs during the first few weeks. Make sure your home is priced right from the very beginning.
The Advantages of Proper Pricing
Higher Net Sales
Attract Better Offers
Better Response from Advertising and Sign Calls
Faster Sale
Increased Agent Response
Avoid Your Home from Becoming “Shopworn”
If You Overprice…
The right buyers won’t see it
The higher priced buyers won’t want it.
Buyers shop by price ranges… if your home is priced even $1 higher than their targeted price range, it won’t be on the show list.
Supply vs. Demand determines what your home is worth because it is only worth what someone is willing to pay for it. Homes priced below market value often will receive multiple offers, which will then drive up the price to market. Pricing strategies vary with the market. If it’s sluggish, price lower; if it’s active, price close to your expected selling price to stimulate competing offers.
Get a comparative market analysis (CMA) from a REALTOR®.
A CMA compares homes that are currently available and those that have sold in your neighborhood in the past year. The more similar the features — square footage, number of rooms, lot size, etc. — and the more recent the data, the more accurately it reflects the current market. Don’t confuse listing price with sold price — the most important factor in the CMA.
Sellers that are realistic and have a desirable property priced competitively will most likely succeed in a sale. Like many investments, the real estate market is cyclical, and we are now in a buyer’s market. The serious seller realizes the importance of being realistic and has a comparable listing price.
