Two Home Pricing Strategies You Need To Know.
Are you thinking of selling your house now or in the future?
Do you currently have your house on the market and it is NOT selling?
This video is a must watch if you answered yes to either of the above questions. I share two simple pricing tips that can be the difference between your house selling or just sitting on the market. These are simple pricing tips that you can do by yourself if going (FSBO) For Sale By Owner or can be done by your real estate professional if your property is currently listed. I will explain the difference between listing your house to sell and shopping for a price. How using Zillow an/or Trulia to gather accurate comps can be problematic
#Homepricingstrategies #Forsalebyowner #myhousedodn'tsell
Source for more accurate comps
www.http://Realtor.com
www.http://mlsli.com
Transcript of video:
Mark Schreier: 00:00 A quick pricing tip to save you time, money, and aggravation. That's the topic of my next video.
Mark Schreier: 00:16 Hello everybody. This is Mark Schreier from Century 21 American Homes and today's video topic is home pricing, one-on-one pricing, your house to sell so you can avoid all that time, aggravation and money that you're possibly going to lose. The longer it sits on the market. I'm going to give you two tips. One is price your house to sell and I'll say it again. Price your house to sell. Don't shop for a price. I'll repeat that again too. Don't shop for price because if you do the latter, you're going to be very, very unhappy. So let's talk about what I mean when I say price your house to sell. Everybody has access to computers and data these days. It's not like it was many, many years ago when there was just a big book that realtors have with all the comps or you knew how much a house down the block sold,
Mark Schreier: 01:06 Bicause that was a neighbor that you spoke to on a regular basis and you got that information. Now there's so many graphs and charts that you can utilize to price your house and see what it actually is worth. So think of yourself as a buyer. If you were a buyer, I guarantee you you're going to price that house different than if you were the person selling it. But remember it's the buyers that are coming to make the offers. You two have to agree and in order for you to do that, you can't have a price that's way up. You have to have a price that's using current data or backed by current data and where can you find that? Number one, you can contact a local real estate agent would have all the current information on the houses in your area. Number two, you can go on some websites, MLSlicom if you live on long Island, that is the source to go to, or realtor.com even because they get firsthand information.
Mark Schreier: 02:06 If you start using Zillow and Trulia, they're going to get information that is sort of second or third generation where they just pull the records from MLSli.com which is basically a clone of the public record for sales. So utilize that information and then know how to read the comps. You have to compare a house that has the same square footage, it's in the same area, and most importantly the same school district and the same condition. If you can find an exact match to your house, then what you can do is you can tweak it up and down. If the house is exactly the same but yours is embedded condition than the house next door, and again, think yourself as a buyer, not a seller, because every seller thinks their house is in better condition than the house next door. So be honest with yourself.
Mark Schreier: 02:53 If it is in better condition, then you can up the price slightly. If it's not, you have to decrease it. If it's a larger, you can up it slightly if it's in a better location because sometimes two blocks can be the difference, but that better location has to be backed by data. You can't say it's in a better location because you live there, the seller, or should I say the buyer doesn't know how great of a person you are and that's not going to increase the price. Plus you're moving. So even if it was going to increase the price, you're not there anymore. So take that out of the equation. So it's gotta be back pricing it to sell means back it by current accurate data shopping for a price that's a no, no, that will not get your house sold. If you shop for a price, what do I mean by that?
Mark Schreier: 03:41 Well, you come up with a number that's not backed by current accurate data. You put it out there and you're just hoping for the best. And let's say it's 50 to $75,000 over what the current data backs, because again, you live there, so that's what it's worth in your mind. Well, even if you got somebody to buy that house, 85 to 90% of homeowners on long Island actually utilize a mortgage and like health insurance, the health insurance company, if it was a medical issue, they have to approve every procedure and every drug that they will that your doctor will give you. So it's not just the doctor in this case, the realtor, the realtor, or should I say the appraiser says your house is worth X and you think it's worth Y and this buyer says, I'm going to give you what you asked for, which is 50 to $75,000 above market value.
Mark Schreier: 04:33 It's never going to pass the appraisal process and you're going to have to adjust that price anyway. So I hope this was helpful. If you're new to my channel, please remember to subscribe and hit the bell for notifications. This was Mark Schreier from Century 21 American Homes and thanks for watching. Hello? Yes, I'm talking to you, the person that watched my video to the very end. Thanks a lot for watching. If you enjoyed it, please give me a big thumbs up. Subscribe to my YouTube channel like me on Facebook. I am a licensed real estate agent in New York state, but I also have a referral service that deals nationwide. So if you're looking for to buy or sell a house anywhere in the United States, please send me a text, contact me via phone, and I'll set you up with a local professional in your area. If you're in my vicinity of the more than happy to help you out in any of your real estate transactions that you'd like. This is Mark Schreier from Century 21 American Homes, and I'll talk to you soon.
Please feel free to contact me with questions
Email: Realtor@markschreier.com
Text: 516.263.9094
Mark Schreier Licensed Real Estate Agent
Century 21 American Homes Real Estate
Syosset, New York
Website:
http://bit.ly/2xLPW51
Making Dreams Come True One Home At A Time.
