Sell Your Home
Every listing is as unique as the owner. Marketing is one variable to the sales process. My marketing includes multiple local and national websites, local magazines and comprehensive newspaper advertising, direct mail and extensive networking to both the Realtor community and the buying public.
Pricing is another variable that is even more important in my opinion to quickly selling a property at full value. No one has a crystal ball but chasing the market, as in having a high price and then lowering it time and time again, is not productive or even profitable. It’s been scientifically proven by John R. Knight*, a Professor of Finance & Real Estate at the University of the Pacific in CA. Ken H Johnson, PHD- Florida International University and Editor of the Journal of Housing Research comments on the findings of John Knight:
The findings from this research indicate that, on average, properties which end up dropping their listing price take longer to sell and suffer a price discount greater than similar properties. Furthermore, bigger price changes are found to have even longer marketing times and greater price discounts.
Sellers as well as Brokers/Agents should therefore be aware of the critical necessity of getting the price correct from the start. Sellers wanting to over list will ultimately take longer to sell and will sell their property for less, on average, according to Knight. Brokers/Agents’ desire to take a listing and get the price right later will ultimately lead to their working harder according to Knight, and they are not doing their sellers any favors. Thus, an initial and detailed analysis of the proper price is much more critical than many originally thought.