FIRST THE PRICE,
Determining property value often begins with online research. Valuing foothill properties this way is especially challenging because property characteristics are enormously varied in this region.
Accurately quantifying known buyer reaction to the differing attributes of foothill homes is not possible using web-based methods alone. Features such as privacy, quality, condition, topography, water features, outbuildings, distance to town, bonus spaces, easements, views, and energy saving features are not readily detectable by online computing systems.
Banks protect their collateral by sending a licensed appraiser to establish value. Yet buyers and sellers will typically skip in depth home valuation.
THEN THE MARKETING
Once price is determined, advanced technology-assisted marketing is the next most important thing. Studies show over 90% of home buyers use the Internet to search for homes before contacting an agent. When you use the latest marketing tools and technology, you have a significant advantage over sellers who don’t. Advanced technology platforms should include:
• Pro-active engagement with buyers while they are in your neighborhood with mobile devices
• Engage and inform them while they are at home doing follow-up research, online
• Connect with buyers before they have formally contacted an agent.
WHAT REALLY SELLS?
A seller’s job is to ensure their home is ‘the best value in the neighborhood.’ An agent’s job is to calculate what makes you the best value.
Important: everything else being equal, buyers will choose NOT to buy your house, if they can find something else equivalent at a lesser price. (Isn’t that what you would do?)
This means you need to find a listing agent who knows how to “make everything else equal,” by adjusting price for the unique features between homes, and basically set the price as scientifically as possible.
What these adjustments should be, and how much to adjust takes training. The right analytical methods greatly increase the chance of narrowing your home’s value into a tighter range depending on how good the data is and how diligently it is reseached.
The ‘principle of substitution’ (used in appraising) states that people won’t pay more for something when they can get something similar, for less. Buyers simply comparison shop — just like you.
HIRING THE RIGHT KNOWLEDGE AND EXPERIENCE IS YOUR BEST BET TO SELL YOUR HOME AT THE HIGHEST PRICE IN THE LEAST AMOUNT OF TIME. I HAVE:
• Knowledge in current real estate principles and practices
• Skills in computer and Internet technology for the sale of real estate
• Appropriate licensing, credentials, and skills in the disciplines needed to maximize the chances for success.