3 THINGS TO KNOW... To Sell Your Home for its Premium Price

3 THINGS TO KNOW about the Atlanta Residential Real Estate Market

3 THINGS TO KNOW
To Sell Your Home for its Premium Price
Episode 62
Last week, episode 61,
we talked about why sales are low but the market isn’t slow and how to win in this market. We noted that Seller stats are strong.
Year over year, looking at August alone,
homes are selling twice fast
and for 20% more.
While the # of sales are down 10%,
the ratio of homes sold to homes available is 75%.
That ratio last year was 60%
& only 35% in 2019 BUT, as we also noted last week, there are homes that still don’t sell. OR aren’t selling for as much as their owners had planned, hoped and expected. In August, out of approximately 12,000 homes for sale, only 3,000 of them didn’t sell. Of those 3,000 homes that didn’t sell, 2,000 of them,that’s 2/3 of them, of them have been on the market for over 90 days. This doesn’t include the listings that didn’t sell and withdrew or expired and are no longer in the multiple listing service.
How is this possible when the average days on market is 7?
The difference between the homes that sell and don’t sell isn’t just circumstantial luck or lack there of. The difference between homes selling well and not, is a big one. It comes down to what we at JMPartners call, the 3 P’s:
1- Preparation
2- Presentation
&
3- Pricing
1- Preparation
You can’t build a good home without a blueprint.The better the blueprint and experts behind it, the better the results of the home built.
The same concept applies for selling your home.
2- Presentation
If my husband brings a gift home, If it arrives in his hands in a blue box or a discount department store paper bag, it almost doesn’t matter what’s in that bag or box. My impression of what what comes out of it has drastically changed from the outgo. To adjust that impression, is almost irreversible.
The same concept applies for selling your home.
3- Pricing
and last but not least Pricing.
You’ve probably heard from any realtor you talk to m, “pricing is everything”. It has even become, well, cliche.
Maybe pricing is everything, but what if it isn’t, at least not in that same, 'just reduce your price', cliche way.
Sales Prices statistics show that Buyers are paying 20% more for updated or new homes than their similar but not so new nor updated counterparts. Whether you believe you’re in a position to update or not, just remember the right adjustments in a home that reap some of the greatest rewards are often, some the smallest… such as of course, declutter or stage, but also a little faux renovating“ (we’ll talk more about that next week on a future episode). Just as important…
Hire a real estate who :
1) Listens to your goals.
2) Knows your market and your’ buyer and how to tell the story of your home that best showcases it to get the best possible price for you.
& last but not least
3) Keeps a pulse on the market so that you can be nimble and adjust as needed to ensure you maximize for the best sales price possible.
Over the upcoming weeks, we’ll be going deeper with more stories and statistics on these 3P’s
- Preparation
- Presentation
- Pricing
your home for top dollar.
Coming soon, we’re going deeper on preparation,
3 THINGS TO NOW
to Prepare Your Home to Ensure You Get Top Dollar.
Thank you for listening, if you like what you heard, please share and subscribe at 3thingstoknow.jmpartners.io