Tuesday, October 18, 2016 / by Jason Huerkamp
Whats the difference?
When you decide its time to sell your home you call in a few agents and they give you a CMA and with that information you choose the best price for your home and the Agent you wish to represent you. Then you either price it correctly or not.
When the home is priced incorrectly, it could affect the way your home is seen and how many viewings it will get.
When you home is priced In the Market it means you will get many showings and your house will probably be sold very quickly and could get multiple offers which will give you the opportunity to get more for your home than the asking price. Your home will need to be in a great condition as most homes will be.
Pricing your home in No Man's Land that means you will likely get a few showings. Feedback may include things such as nice home, overpriced. Pricing in no man's land is when your home is helping to sell more homes that are priced in the market. Be careful to leave your home in that price range too long because you could miss your market completely and end up accepting less than you would have if you were priced correctly from the beginning.
When we are in a Seller's Market this is how the big picture looks. When we are in a Sellers Market, you home can be priced at virtually any amount and there will be interest in it. The condition can vary and buyers will still look at it and offer. No man's land is a small band.
This is the Buyers Market Graphic. You can see that there are a small area of great condition priced well homes. The out of the market section is huge and does not even reach the potential buyers. It can be used as a Springboard by some agents to get other homes sold.
When getting your home listed choose the right agent to represent you. Their skill and knowledge about the market, marketing and negotiating is paramount to getting your home sold in the shortest possible time for the most amount of money with the least amount of hassle.