OPEN HOUSE Sat 9-16, 12:00 to 4:00. This beautiful home, built in 2004, sits on a private site at the end of a cul-de-sac in a nice neighborhood. With 4 bedrooms, 3
What Is Pricing To Sell Anyway
Of course when you sell your property in Multnomah County you want to get as much money as possible for it. Everyone does.
I want that for you too. The most important consideration is pricing the property so it will sell within a couple of weeks—that’s when you get your highest price.
Pricing Property to Sell at the Best Price
Competitive Market Analysis: evaluate the most recent sales activity in your area and in comparable areas.
Competition and the overall pace of the market.
Condition of your property both cosmetically and structurally.
How soon you'd like to move.
Two Ways to Approach Pricing
Price it a bit over, maybe 5-10% to leave room for negotiation. The danger is pricing it too high. Even in Portland’s hot market, savvy buyers will rarely buy an overpriced property.
Price very competitively; maybe 5-8% under the likely sales price. Usually excitement of a hot deal will bring you more potential buyers and a higher price. The danger here is that the property will not appraise for the agreed upon price.
How Will We Know How we Did on the Price?
Ultimately we decide on a price for the property, list it and launch my (impeccable) marketing strategy.
We will know how well we did on the pricing by the initial market reaction. Right from day 1 we should see lots of activity; calls, agent showings, hits on Portland MLS website and all the other important websites.
If within two weeks we don’t have an offer, we are priced too high. There I said it.
Overpriced property doesn’t sell at the high price set. No matter the marketing, the exposure, the open houses, the ads, if a property is overpriced, today’s savvy buyers will wait for it to come down and then offer less than the asking price on the assumption that it’s been on the market for so long, you must be getting antsy to sell.
… Or we will hear the dreaded, “What’s wrong with this house?”!
If you are overpriced, dropping the price within the first 3 weeks does not signal weakness, rather it will get your property to the right buyers . Adjusting the price will invigorate the market and get your property sold. It’s been shown the sooner you get the offers, the more money you will net from the sale of your property. You’ll be happy and so will I.
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