It has long been a motto of real estate, and the saying goes, “location, location, location.” It is what sells a property, they say. In the past, if you had a nicely maintained home in Pinecrest, Palmetto Bay or Coral Gables and priced it close to its true market value, it would sell. But recent times have brought to light that the real deciding factor on how fast, or even if, your home sells all comes down to price.
When a home is newly listed it gathers a lot of interest. At this point Robin Parker and I launch our marketing program. Even the MLS indicates the home as “newly listed.” After a few weeks, however, if no momentum has been built, the home will then face a must steeper challenge on the road to selling.
First, homes that have been on the market a considerable time lose their competitive advantage. The first question a buyer asks is: “How long has the house been on the market”? Second, no one wants their home to sit on the market. It can interrupt plans to move and to buy. One of the best game plans is to price your home to sell. This means taking a good, hard look at the area comparables. How much have homes been selling for in your area? How does your home compare in terms of amenities? Robin and I can be invaluable when it comes to correctly pricing your home.
One tried and true method a lot of us Realtors have been using lately is a tactic designed to increase substantially the first impression of a home. We basically price it just below the market, especially as the market conditions have dictated that prices are still dropping. If your home is in a desirable location and you undercut the competition, you may find yourself fielding multiple offers. How does that work? A group of buyers are all looking for a home in your neighborhood of Pinecrest, Palmetto Bay or Coral Gables. Comparable homes to yours are priced around $600,000. So, we price your home at $575,000. Buyers jump at the chance to get such a bargain deal …. buyers being the operative word. This can create a bidding war between buyers who have fallen in love with your property. In many cases, the final sale price ends up being more than you would have gotten had you listed at a higher initial price.
Rely on Robin and myself, your real estate professionals, to guide you in pricing your home.
Real estate referrals are the heart of our business. If you know of someone looking to buy or sell real estate in South Miami-Dade, please refer them to us.
Lynn Cromer & Robin Parker are real estate sales and marketing professionals for Coldwell Banker in beautiful Pinecrest, Florida. For more information on Pinecrest, Florida or the communities of Coral Gables, Palmetto Bay and Coconut Grove. Lynn can be reached at 305-962-4068, Robin at 305-546-0447 or email at info@wesellmiami.com.
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