Please remember that we do not call you unless you call us. Thank you for your business. ~ Rhonda Duffy
Pricing Your Home
Strategy before you lower your price:
1. Make sure that you are priced right, see below.
2. Make sure that the condition of your home is the best it can be.
3. Change your pictures often, go here.
4. Change the buyer's agent commission to 4% instead of 3%, for sure don't go below 3% buyer agent commission..
5. Make sure you are giving easy access to agents by having a lockbox.
6. Offer agent and buyer incentives like TVs, trips etc...
7. Make sure that if you do lower your price, you use big round numbers, see below.
8. Do open houses to see how much traffic is driving your neighborhood.
9. Consider doing other marketing, go here.
Is My House Priced Right?
1. Request a Strategy Report from our office. A Strategy Report is something that we made up, but it is very effective at seeing the true marketing conditions of your area. We pull all of the active and pending listings of a select price range and area around your home. It will give you the true buyer picture of how many buyers are in your market. Usually there is 1 buyer for every 5 sellers.
To get the report, write us an email to:
duffyhelp@gmail.com
List your FMLS number and street address and Strategy Report in the subject line.
In the body of the email state your current list price. If your biggest selling feature is your school district, please list the best school’s name.
We will email you the report to your reply email.
2. We can send you your neighborhood pricing known as comparables or comps.
To get the report, write us an email to:
duffyhelp@gmail.com
List your FMLS number and street address and Comps Needed in the subject line.
In the body of the email state your Subdivision Name.
We will email you the report to your reply email.
3. Consider lowering your price or raising your buyer’s agent commission to 4% after you view the report.
Send your Price, Text or Commission Changes to:
Please add your FMLS number in the subject line.
PLEASE WAIT ON A CONFIRMATION FROM US THAT WE HAVE RECEIVED YOUR EMAIL. IF YOU DO NOT RECEIVE A CONFIRMATION WITHIN 24 HOURS ON WEEKDAYS, PLEASE RESEND YOUR EMAIL.
Commission changes are sent manually by fax to the FMLS. You will be responsible for the commission stated until FMLS makes the change.
Before you change your price, read this:
How You Should Be Priced to
Maximize Viewing On the Internet
Internet sites are set up to pull even numbers. For instance if you are listed
for $ 299,900.00 you are only being pulled in searches of $250,000 to $300,000.
If you were listed at $300,000 you would be pulled in searches of $250,000 to
$300,000 AND $300,000 to $350,000. Plus, when agents downgrade a search when the
interest rate goes up, you would be able to be pulled at $300,000 wherein agents
may not think to put search from $299,000 up.
The same, not as powerful, theory goes for listing on even 5,000s. For instance
$265,000. This is based on the fact that agents probably won’t be searching
$264,900 to 285,000.
Price and text changes take up to 72 hours to be posted to all sites. First we post the changes to FMLS and MLS and then other sites on the internet pick up the change.
Pricing Strategy of Some Agents
Some agents report that they only take listings that are 10% below the lowest comp in the neighborhood. They report that when they list the home at this value, the listing sells.
Others report that they list for 20K below the lowest price.
Some say that they lower the price of the home 5K every 30 days.
Be careful about getting too low because unless you get multiple offers, you will have to negotiate!