Don't you just put a price on a house and work to sell it? you might say.
well no, not really.
Strategic pricing involves an understanding of the real estate market and where your property fits into that market. A skilled agent will take the time to explain this to you and help you understand.
An unskilled agent will make no mention of current market conditions and simply put a price on your home (usually one that's too high).
And no, simply providing you with a few comparative sales in the area is not enough. Yes, all good agents will provide this information but only the best agents truly educate you on the market with relative facts and figures.
Strategic pricing involves the following:
- Identifying the current market conditions
- Discussing expectations with you the home owner
- Determining what the "market value" of your home is
- Accepting that buyers will try to negotiate
- Setting a price accordingly
- Being prepared to meet the market if necessary
Strategic pricing is an understanding of the relationship between your property and the current market. Without understanding this you reduce your opportunity of selling at the optimal price in an acceptable amount of time.
A skilled agent will take the time to discuss the market and strategic pricing with you. A skilled agent will have an honest and up-front converstaion with you about where you sit in relation to the market and a skillled agent will educate you in pricing and give you an understanding of how strategic pricing works.
Strategic pricing is not setting one price and sticking to it.
Strategic pricing is a process of assessing the market on a weekly basis and relating it back to the current price you have on your property. If your current price has not been sucessful then it needs to be adjusted.
Plain and simple this is how it works.
Some old-fashioned agents will say "Don't say that! They won't list with you. Just price it higher".
Nonesense. In our experience the more up front and fair dinkum we are about the market and pricing the more willing people are to listen to us because they can tell we are trying to work with them and help them.
This approach has helped Halliwell Property Agents become one of the most prominent and sucessful real estate agencies on the North West Coast of Tasmania.
When you're ready to talk real estate your now is our now. Now is the time!
Halliwell Property Agents