Selling Your Home? 

Selling your home is all about knowing the local housing market. Pricing your home correctly is crucial to maximizing the highest selling price possible. As an area expert, I can help determine what direction the market is trending, so you can make the right choices when it comes to selling your home to get the highest price possible!

This video is an exaggeration of the frustration that sellers experience when their homes stay on the open market for an extreme amount of time. This can be due to many reasons. However,accurate pricing is key to get as many people as possible to tour and make offers on your home, especially when you first list your home.  There’s a current pool of buyers waiting for new listings to hit the market, which is why accurate pricing and staging your home properly is crucial. I am a certified Pricing Strategy Advisor by the National Association of Realtors and am knowledgeable of the pricing strategies, national and local market status reviews and trends to establish a price relative to the market but best for the seller. 

Getting to the Best Price

Determining property values depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approaching pricing assignment from all pertinent perspectives. There are four main valuation services used n residential real estate transactions: The comparative market analysis (CMA), appraisal, automated valuation model (AVM),and broker price opinion. Your REALTOR® will focus on the CMA and AVM in determining the price (buying or selling for your home). Did I say buying or selling? That's correct, the National Association of Realtors® Code of Ethics and Texas Occupational Code require a REALTOR® to perform a CMA not only for the seller but to also protect the buyer from overpaying or making a low ball offer. The purpose of a CMA is to establish a price range for a property that a seller wishes to sell and a buyer wishes to buy. A well researched CMA will ensure that a listing is priced correctly and more likely to sell quickly. A CMA allows buyers to make offers based on objective data relevant to the specific market. I will use the CMA to help sellers establish a relevant market price to prevent languishing days on the market and buyers from overpaying or potentially losing a home due to a low ball offer. 

CMA Ingredients of consideration

The CMA report is a marketing tool. A well prepared approach does not rely on automated valuation models, rumors, or a Ouija Board but a analytical and methodical process. The following are of consideration in preparing a CMA:

• The market where the subject home is.
• The neighborhood where the subject home is.
• Following industry news. 
• An absorption rate analysis to determine if the subject home is in a buyers, sellers or neutral market.
• Consideration of comparable and competitive homes in the market.
• Days on market of comparable and competitive homes in the market. 
• Sales price/list price ration of comparable and competitive homes in the market.
• A recommended price range.  

Automated Valuation Models

Automated valuation models (AVMs) are online databases that try to match up similar properties to give an idea of the range of sales prices historically recorded. Although AVMs provide quick and convenient information, they may miss important value influencing information. Good examples are that AVMs may not be able to distinguish distinct property characteristics such as the school district that a home lies, if its proximity to a nearby river, or the property is in or near a resort. They also may be unaware of important renovations or improvements completed. Many customers have heard of such AVMs as Zillow or Trulia. Relying strictly on these AVMs could produce a margin of error for data and estimates. 

Seven Deadly Seller Sins

Several seller mistakes or conceptions occur rather predictably in residential real estate, in particular:

• Pricing higher than the competition.
• Refusing reasonable offers early on.
• Not putting the property in the best possible condition for sale.
• Making showing the property difficult.
• Not recognizing that a seller's home is a buyer's house (a commodity with no emotional attachment). 
• Blaming the agent for the market.
• Not reducing the price in a timely manner, causing market aging.

Things to Think About When Selling Your Home

Once we’ve determined the price, I can give you advice about the little things that you can do to stage your home to get you the highest possible price! You’d be surprised by the simple measures you can take to dress up your home to attract more qualified buyers. 

I have a marketing plan that is designed to get maximum exposure to the buyers that are currently looking, and all agents that have buyers.  Through pricing, staging, agent accessibility, and visibility, both on and offline, I can successfully sell your home to help you achieve your goals. 

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

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Contact Information:

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Email: rickallenrealtor@gmail.com                                                                                                                            Phone:956-571-5586

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