Selling A Home-Pricing Strategies

Selling A Home-Pricing Strategies
Selling A Home - How to Price Your House
Selling Your Home - Pricing Your House- Learn about Pricing Strategies
Hollywood home sellers: are you thinking of selling your home? Follow these steps on How to market your house- our most commonly recommended do’s and don’t-s for our sellers in Hollywood.
In this video, we will begin with How to Market Your House- DO’s, as marketing your home for sale is the most important step to ensure successful sale of your home.
1.What is a CMA. This is a real, comparative market analysis to back up your home’s value with a real data, the most important tool to determine the realistic home value of your home and what your home is likely to appraise for. The asking price you set, based on this CMA, will be the foundation for your marketing plan.
2. CMA- Vs AVM- (automated valuation models): Zestimates, online valuations, iBuyers, and all of these algorithm-driven home-flipping companies that bombard you left and right with enticing advertising messages, promising to deliver instantly “your home value”. Are these online home valuations accurate to the actual home value?
3. AVM tool –An AVM tool uses data points and a mathematical model to estimate real estate property value. The biggest problem with using AVMs to determine offers is inaccuracy. AVMs cannot do that a real estate agent and appraiser can.
4. Determining the real value of your home- the steps an appraiser and an experienced agent will take:
- provide details of the condition of the structure
-examine the quality or appeal of the location
-calculate added value from many components: pool, garage, landscaping, significant recent updates and upgrades
-calculate decreased value from damages/dated furnishing
5. Overpricing your home is never a good idea. In fact, this is one of the biggest mistakes a home seller can make.
-much less buyer traffic, or no visits at all.
-he home will sit on the market much longer
-you will be forced to make detrimental price reductions,
and will eventually sell for much less than if it was priced correctly in the beginning,
- the listing will expire, and the fact that the home did not sell, might be perceived as “something must be wrong with this house”.
6. Is there a justifiable way to overprice a house?
When a home is justifiably priced higher than others currently listed or recently sold, your agent needs to do many things that require advanced marketing and technology skills and ample advertising budget. You need to do a few things as well- check our previous video, Selling Your Home- How to Market Your House for more details.
7. If your CMA shows that your house offers nothing special over your neighbors’, you need to price it right.
8. Don’t: Overprice based on sentimentality or an online valuation.
You can’t just pick a number that “feels right” or tell buyers that the internet says your house is worth this much. Some Sellers even hire their own appraiser to support their understanding of the home value.
Unfortunately, this appraisal has little to no value, as it serves completely different purpose. As opposed to an appraiser that the buyer’s Lender will assign who would follow the Lender’s guidelines and arrive at a much different, more conservative value to minimize the risk of the Lender.
Are you thinking of selling your home? Contact us now to schedule a free consultation.
If you want to talk to about anything real estate related you call call/text 786-412-8510, or email: kate.smithfl@gmail.com Kate Smith, Hollywood FL
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