PRICE and CONDITION - are the main factors that will
sell your home. If your home is overpriced according to it's
condition- it will take more time to sell, or worse, it will NOT
SELL.
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David Wilson - Real Estate Sales
and Property Management
PO Box 14868 Baton Rouge, LA
70898
Licensed Real Estate Broker - State
of Louisiana
Phone: 225-663-1406 Cell:
225-726-5941
PRICE
and CONDITION - are the main factors that will sell your home. If
your home is overpriced according to it's condition-
it will take more time
to sell, or worse, it
will NOT SELL.
Home and property are the biggest
investments most of us will ever make. When you’re ready to
capitalize on that investment by selling, the realtor you list
with can make a big difference in your profit - the difference
is no small change - it can save
you thousands of dollars! That’s because I can save
you up to 2% in commission costs compared to other realtors in the
area. Instead of 5% or 6% like other companies, my fee is only
$299.00 + 3%*. But we still pay the buyers agent their usual 2.5%,
so your home gets the full MLS attention it deserves.
When most brokers sit down
with you to list your property, they show you a fancy presentation
telling you all about their great "exclusive marketing program."
However, it is a little-known fact among most consumers, (but very
well-known among brokers) that the vast majority of
properties - approx. 90% - are sold by cooperating MLS brokers, and
NOT by the listing agent/broker.
The bottom
line is: when most brokers list a property, they don't even
expect to sell it themselves - they leave that
to other agents. With that in mind, does it
really make sense to pay a huge commission to a broker
just for listing it in the MLS and having someone else sell it?
Wouldn't you rather keep most of that money for yourself and your
family?
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1. Pricing your Property
for an Effective and Efficient Sale.
When you decide to sell your property, you
want to sell it for as much money as the market will allow. Pricing too high will keep your home from
selling. A low price will keep you from receiving full
value.
There are Three Main Factors to Consider
when Pricing your Property:
- YOUR PRICE
- The Market - what are similar homes
selling for? How FAST are similar homes selling?
- The condtion of your home.
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2. The market determines
value.
- Price your home competitively based on the
price of homes that have recently sold, are currently for sale,
and those listings that have expired in your neighborhood.
- Condition of your Home
- Buyers base their decisions on the
condition of the home as well as the price.
- Take the time now to prepare your home to
attract potential buyers.
Select a Sales Associate
- * The Sales Associate brings the market to
you. The market brings your price.
- * The right Sales Associate is the one who
knows the market and can get you the best price possible - not
the one who promises you the highest price just to get you to
list with them!
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3. Length of Time
Required to Sell a Home
- THE MAJORITY OF HOMES ARE SOLD WITHIN THE
FIRST 3 WEEKS !
- IF A HOME IS NOT SOLD WITHIN THE FIRST
MONTH, THE PRICE IS PROBABLY TOO HIGH.
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4. The Benefits of
Pricing Right
- Your home sells faster.
- Your home never loses its
"marketability".
- There is less inconvenience to you.
- Sales Associates will focus their energies
on your property because it is more marketable.
- You will attract more potential buyers. A
well priced home gets a better response from sign calls and
advertising.
- The closer the price is to market value,
the higher the offers.
- A well - priced property generates the
excitement that produces higher sale prices. You net MORE money
both in terms of actual sale price and in less carrying
costs.
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5. The Factors that
Influence Overpricing
- Extensive renovations and hidden
costs
- Urgent need for money
- Desire to purchase in a higher priced
area
- Original cost of home too high
- Lack of real market information
- Building in "bargaining room"
- Perceived emotional value
- Missing the Right Buyer
You may think that interested buyers "can
always make an offer", but if the home is overpriced, potential
buyers looking in a lower price range will never see it. Those who
can afford a home at your asking price will soon recognize that
they can get better value elsewhere.
Remember, the wrong price attracts the wrong
buyers. In fact, it may even help sell your neighbor's home.
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6. The Results of
Overpricing
Many sellers believe that if they price their
home high initially, they can always lower it later. Often when a
home is priced too high, it experiences little activity. Gradually
the price comes down to market value, but by that time it has been
for sale too long and buyers are wary. On occasion, the price is
dropped below market value because the seller runs out of time.
The property sells for less than it is worth.
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7. The Importance of
Early Activity
As soon as a home comes on the market, there
is a flurry of activity surrounding it. This is the crucial time
when Sales Associates and potential buyers sit up and take notice.
If the home is overpriced, it doesn't take
long for interested parties to lose interest. By the time the
price drops, a majority of the buyers are lost.
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Sellers
forms
Make sure you READ each form carefully and
review.
In listing your
home with a Real Estate Agent you, as the seller, need to fill out
the forms below:
Listing
Agreement - Agreement between Seller and Real
Estate Company for the sale of your property. LETTER SIZE PAPER (8-1/2 x
11) 2 pages
Residential Input
Sheet - The seller fills out page
2. LEGAL SIZE PAPER
(8-1/2 x 14) 2
pages
Property Disclosure
Form -- Seller -
obligated to disclose to any PURCHASER (S), any known material
defects regarding the condition of real estate. In accordance with
Act 308 of the 2003 Louisiana Legislature (LSA-R.S. 9:3195-3199),
effective July 1,2004, a seller of residential real
property must furnish purchasers with a Property Disclosure
Document. LEGAL SIZE PAPER
(8-1/2 x 14) --
4 pages
Agency Disclosure
Form - This document
describes the various types of agency relationships that can exist
in real estate transactions. (8 1/2 x 14) 1 Page
Disclosure of Information on
Lead-Based Paint and/or Lead-Based Paint Hazards - MUST BE FILLED OUT IF
YOUR HOME WAS built prior to 1978.
Every purchaser of any
interest in residential real property on which a residential
dwelling was built prior to 1978 is notified that such property
may present exposure to lead from lead-based paint that may
place young children at risk of developing lead poisoning. (8
1/2 x 11) 1 Page
