Pricing & Perception is everything!

Sellers: Asking Prices! Pricing is always important in any market, but in this difficult climate, the most important rule is to price your property accurately. This can often be a challenge because what happens locally may not compare what is being presented within the national media. Careful consideration must be given to market trends, late statistics on recent sales (within 60-90 days), available credit and the local employment picture.

Agents: It is absolutely essential, and I believe our duty, to accurately price properties for sale from the get-go. With the bulging inventory there is no time to lose. Care must be taken to properly analyze all data. A thorough market analysis should take hours, not minutes. The agent must know all competing properties and assure the seller that theirs is the competition, not the other way around. Market updates should be done on a WEEKLY, not monthly basis. Lately, I look virtually every day, and at the very least every 3 days to be certain my listing is properly positioned. If it is not, we will lose. Read the rest of this entry »