Place your property on the market with a well respected real estate company that you can trust that will be your Trusted Advisor, Skilled Negotiator, Expert Facilitator. If I can be of some help, please give me a call at 417-533-3571.

Teresa

Bottom Line....

Only two things sell houses: Marketing and Price

I would put the AVERAGE full service Realtor's DOM up against the DOM for the flat fee company every day of the week! I went on an appointment and MR. Seller says he is thinking of using XYZ flat fee company. So I ask if I can come back in 3 hours to prove to him why it is a bad idea. I then rush to my office and run the average DOM and List Ptice to Sold Price for this compnay and myself. WOW... I take the numbers back to Mr. Seller. Present them and my lisitng contract to himm and boom... He signs up. Why? Because most if not all of these Flat Fee companies DO NOT CARE IF THE HOME SELLS! They got their money. What is their motivation to sell the home. A profesional, full service agent does not get pd unless he/she sells the home so they are going to be out there busting their hump to get it sold. PLEASE. This is a simple matter of educating clients. Here in Jackson County we have a TON of homes on the market. Even ones that are priced really well are setting there. The is a lot more to selling a home than just pricing it so low that you give it away.

Jeff is right, Realtor.com is a good resource to check.

Is the goal to sell your home the fastest - or to maximize the price of the home for your seller in the quickest turn around time? Know your merket. Price correctly from the start and market it properly and your home will sell.

Chip
The best way that I have found to date, I have the customer get an appraisal, he then has an Idea what the present value is vs. a perceived value. Next I do my CMA and I price it below the price point usually 5% , I do my local marketing and a great deal of internet marketing, it works everywhere Good luck

Make sure it is in great condition.
Massive Marketing Exposure.
Price it Right.
Make it Easy to Show and easy for customers to get the information.

RUTH: Love your point and have to say that in my market, there is no such thing as pricing too low. In fact, it generates a bidding situation which will often result in a better price than one would get by dropping the list price over time. There is no doubt about the property itself because buyers (and their full service agents :)) simply assume the seller is uber motivated.

Finally, the concern about buyers who cannot afford to the expenses is moot when a buyer is working with a full service agent who takes the time to get them qualified FIRST.

Hi,

First my apologies to Jeff, I called you Jim. Shame on me!!

Yes, Ruth, I believe you can price too low. But, where too low is depends upon the inventory, average DOM, and competition in your market. Without knowing your particulars, please accept the following as only rough guidelines. If I were privvy to all the details, I might modify my answer some.

5% under market is a guideline I look at for a buyers market and a serious seller. If the market is really struggling and slow, 10% can be appropriate.

NYC is doing well this year, but had their slump a short while back. At that time,Barbara Corcoran was a strong supporter of 10% below market if you are serious about selling. She is the founder of Corcoran Real Estate. Also, you don't wan to price low without strong market exposure to support it. You need to get the word out there so you can reach the largest potential buyer pool.

Too many price reductions can be more harmful than an aggressive pricing strategy. The buyers know that the market could not produce a buyer at all of those interval pricing points.

Good luck.

But Jeff and Debra, can a house be priced too low? People don't want to buy stale listings because they are suspicious that something is wrong with it and no one else wanted it. Can that same fear hold true if a house is priced too low or has had too many or too large of price reductions? Will the too low price attract buyers who then can't afford the taxes and utility bills?

Jim .....Great response!

Within other Trulia posts, and everyday, I always say “price and exposure.” The property (product) is an assumption in my repetitive phrase. All other aspects of marketing a property are factored in price. i.e. If condition, location, or presentation are compromised, it is reflected in the price. As Realtors, we need to find the balance of the right amount of exposure for the property at the right price. Too little exposure on a well priced property that is in great condition will not bring about the best results for the seller. I have said in several other Trulia posts that marketing an overpriced property helps sell the competition by reinforcing the value at the competition. You can’t sell an overpriced property through marketing.

If I can go out on a limb and guess what my colleagues were communicating is that price remains core to the process, but does not stand alone. I don’t think they meant to give off the impression that price stands alone, as I have seen great posts from them on marketing subjects, etc. Agents become accustomed to the necessity of having pricing strategy discussions with their sellers, and the importance of price remains at the forefront of the agent’s mind. I think this is what the agents were attempting to communicate. Since all the marketing in the world can’t sell an overpriced property, you have to get the pricing right first before engaging in the promotional activities. If I went out on a limb in error, feel free to correct me.

Note to Melissa....yes, I noticed the Q, followed by an A with the guaranteed sales program, just ignored it. I wholeheartedly agree with your 4 points and believe that staging and compensation impact results. We simply organize and present it differently. In my presentation, a home’s condition, presentation, tidiness, location, and staging are listed under “price.” Buyer agent compensation, along with seller’s cooperation with ease of showing, are subcategories of “exposure.” You have many great posts, and I look forward to reading more of your contributions.

Deborah Madey - Broker
Peninsula Realty Group, Inc.
New Jersey

Seeing that you are a "Real Estate Pro" you should already know, however I find many times Realtors say one item and that is price.

I believe that is partially true, but way too simplistic. If the price is low enough any home will sell, even if it is in terrible condition, and with little marketing.

However to sell fast at top dollar I have a rule of three, which is Price, Product and Promotion.

Product is the condition of the home and property and how well the home shows. Sometimes real estate agents are afraid to tell a seller they need to clean the house, declutter, paint, mow, weed, etc. A home in great showing condition sells for more. I always tell my clients, there is living condition and showing condition. I want to see the home in showing condition, or they will have to accept less.

Promotion or marketing is also very important. Whether a For Sale by Owner, or a Realtor listed home there are wide variations in the type and effectiveness of the marketing plan. Some FSBOs put up a sign, some put up a sign and advertise in the paper, some do the former plus get an Internet presence, and some do all the above plus will give a commission to a real estate agent who brings a buyer.

Some Realtors market by putting up a sign and putting the listing on the local MLS and Realtor.com. Some do that and also put the listing on multiple websites such as company websites, personal websites, and various other websites such as Trulia, Oodle, Craigslist, Zillow, and thousands of others. Print media may also be used, as can radio, TV, networking with other agents, first time homebuyer seminars, investment groups etc. There are so many ways to market a listing, and some market using minimal sources while others get the listing out to many more buyers.

In both cases the more prospective buyers reached the more likely of a sale at a good price.

Just look on any MLS or on Realtor.com and you can easily see the wide spectrum of marketing. Some agents take no photos or one photo, while others put the maximum number of photos on the site, some use virtual tours while others do not, and some property descriptions say "nice house in nice neighborhood", while others are so well written that you want to see the home and the neighborhood.

In the end, price can always sell the home, but it often can be much higher if the seller keeps or gets the home in great condition, and the Realtor (or seller if FSBO) has a great marketing plan that is well executed.

Ok, I’m confused!! The person asking the question is categorized as a “Real Estate Pro” not a homeowner or buyer, and he goes onto market himself and his “guaranteed sales program” (noted in the 1st answer to the question) Am I the only one who noticed this? In my market, the 4 main things to do to get a home sold is #1 Price, #2 Exposure #3 Staging #4 Compensation to Buyer's Brokers.


Melissa Mancini, Realtor, CBR,

Its not always that simple proflatfee. Sure, PRICE is the number one consideration - however, all the previous posts were working under the assumption that the property is listed with an agent. Guess they didn't read your screen name. However, you are being very disingenuous when you say that all you need is a “flat fee.” You conveniently forget that to even LIST on the MLS you have no choice but to offer a commission to the buying side. Given current market conditions, where inventories are high in most areas, if you are serious about selling that co-op had better be generous. Buyer’s agents are going crazy trying to show all of the built up inventory to their customers. In such an atmosphere they can and will avoid homes that offer lower than standard commissions – particularly if they have been trotting a customer around for months. So you now have your flat fee PLUS ½ full commission. Then you have marketing. Most FSBO’s who list with flat fee companies have to pony up for advertising that brokerages get a discount for. One of my FSBO listings actually spent $2500 in marketing prior to listing.

Soooo- now you have your flat fee, your advertising, and ½ commission. Meanwhile, buyers who come “on their own” or even with an agent know that you are selling without an agent. If you don’t think they expect a slice of the saved commission pie, guess again. So now your fat 6% savings is down to about 1.5%.

But there is more. Unless you are going to dedicate yourself to showing the house 24/7, you are going to have restricted showings. One huge kiss of death is not having convenient showing times. Homes that restrict showings languish for months and often sell for less. Why? When agents are showing homes they want to be able to line them up and go when their CUSTOMER wants to. Showings are very time consuming and agents don’t want to have to “come back later” to that one house where there all sorts of showing restrictions. This will discourage showings – fewer eyeballs, fewer and lower offers.

Finally, there is the risk involved. Selling yourself requires an investment of both time and money. Relatively few homes sell without an agent (roughly 15%). After the flat fee and marketing and TIME, most end up having to list anyway – paying more overall than the person who listed to begin with.

Thank you Bridgette, Diane, and Jennifer for supporting my point. Folks, you don't need to pay high fees to sell your house, because the only thing that matters is that you price it low. If you just price it low and put it in the MLS it will sell. You can get into MLS with a flat fee lisitng company for a few hundred dollars. Yes, price does cure everything. And, if you are going to save all those commission dollars, you can afford to price it lower than market value, and price it sell yesterday.

The Bestest way to sell your house the Fastest? What is the distance from Kearney to Kansas City? Have you plugged into that market for a potential buyer?

I agree with the price point as most will attest - but don't sell yourself short if you have more than the local population to draw from. According to City-Data.com your town should be reaching the 7900 mark for population. Not too big - but the median age is still in the 30's. That tells me you have a commuting dynamic...

Hope you are priced well, and your location is on the south side - closest to the KC borders! Good luck!

Everyone has good input, but Diane stated the #1: PRICE!

Diane just said it - whatever problems a home might have, price cures everything. Price it to sell yesterday and it WILL sell.

Price it right--lower than your competition, lower than market value. There are buyers out there.

Before you put your home on the market, prepare it for it's "show ready" best. If you have a lot of "stuff", declutter, discard, and pack. Make any minor repairs and clean as if you need to pass the strictest white glove test out there.

Interview 3 agents and ask them to provide you in writing their proposals for marketing your home. Get their commitments in writing. Ask extensive questions about their internet marketing programs. Print advertising is secondary. Choose the agent to represent you based upon their skill, knowledge and dedication to getting the job done. Do not choose an agent based on the highest proposed market price.

Set your price aggressively. Depending on the inventory levels, and how long properties are sitting on the market, consider anywhere from 5%-10% under market value. If you are in a strong market, still price very aggressively.

As an aside, we went to market a few days ago with a property with an aggressive price, slightly under market. Offers now exceed list, and we have 3 at the moment. The sellers spent 1 month preparing the home, and we actually signed the listing agreement a while back and began working on the marketing materials. Upon listing day, we were ready to "go".

Best of luck.

If you want a quick sell there are a couple of things you will need to do. You will need to de-clutter, freshen up with paint if needed, and fix obvious repairs no matter how small. Curb appeal will be a key factor as well, it will be the first impression they have of the home. Spend a little time to get the yard and flower beds looking nice. The most important factor will be price. It will be very important to price it to sell. For best results consult with a Realtor.

There are several ways! A few of the most efficient, and least painful are explained in depth on my website. I always need to analyze each families needs in depth before making any recommendation. It would be worth looking at my guaranteed sale program, and our auction properties division if you are in a time crunch. Every sellers situation is a bit different. The decision to sell a home is not a small one, so enlisting the services of the right real estate agent is a big part of the process.