CHAPTER 2 Does Listing Price Matter?
Are you tired of hearing that your home didn’t sell because it was "overpriced"? It’s a common assumption, but it’s not always accurate. While many believe that homes fail to sell due to their price, the reality is often far more nuanced. In most cases, the issue isn’t the price itself—it’s ineffective marketing. Selling a home at full market value requires more than just a competitive listing price. It demands a strategic marketing approach designed to attract and excite buyers, even in a crowded marketplace.
The Power of Marketing - A Case Study
Take John, for example. He listed his home for $699,900 with a reputable agent known for quality marketing. The agent used professional photography, extensive online advertising, and hosted an open house. Despite these efforts, the home failed to attract buyers. The agent suggested lowering the price to $650,000 to align with comparable properties in the area, but John hesitated. He knew his home was among the nicest in the neighborhood, with features others lacked. After consulting another agent and hearing the same advice, John faced a tough choice: 1. Drop the price to align with market comparables, likely accepting a final sale price between $630,000 and $640,000. 2. Hire a skilled agent who could implement a more
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