Arrrggggg! Should I Reduce My Listing Price? How Much? from Ken Brand on Vimeo.
Why Isn’t My Property Selling?
There are three things that effect the salability.
1. Marketing
2. Merchandising/Staging
3. Pricing
Should I Reduce My Listing Price? How Much?
These are common questions. I answer them in this video.
First I talk about the two things you can do before you reduce your price. Although it’s often called for, a price reduction is the last resort.
Option One – Two things you should do first.
Review the Merchandising and Staging of the property. Evaluate and enhance the physical interior and exterior appearance of the property. Declutter, neutralize, freshen, paint, stage and position for maximum appeal. Here’s a detailed “Preparing Your Home To Sell” checklist.
Review the broadcasting marketing approach and the physical marketing presentation. Expand where the property information is sent (Google.com, Trulia.com, Yahoo.com, Realtor.com, etc.), amp up the property photos and juice up the property description and add information to your online listing profile. Here’s an example of world class property promotion.
Last Resort – Price Adjustment
Before adjusting, review Market Data; Days On Market, Sales Velocity, Seasonality, Months Supply Of Inventory, Direct Competition. Here’s a Market Report example for The Woodlands, TX
Adjust accordingly considering a “sell it today” price, a “no regrets” price and the HAR 5% price reduction search function.
Take action, adjust the list price and re-engage all showing agents.
Let me know if you have any questions.
Ken Brand – 832-797-1779
Comments on this entry are closed.