According to my
REALTOR magazine, RE firm
Redfin has got some tips that may just help you sell your home quicker. It couldn't hurt, right?
*
Don't overprice! The theory (and I've done it, too) is that you should start high, so you have negotiating room. Works in theory, not so much in practice. According to a 2002 study of listings in California, homes without a price reduction sold for 97 % of their listing price and homes with price reductions only pulled in 88% of their initial list price.
*
Price Smart! Because most real estate sites filter price in $25,000 or $50,000 increments, it would be smart to price your $351,000 home for under $350,000 to show up on the correct price search.
*
Debut on Friday! Redfin analyzes that listings get 7.7 percent more visitors when their first day on the market is a Friday. The worst day to debut? Thursday!
*
Market your property online! The more spots the better! I'm thinking
Facebook,
Myspace, and
Craigslist. According to a Redfin study, promoting on Craigslist alone had an average of 6.8 online visits from Craigslist!
*
Don't Leave! Vacant homes are 9.5 % more likely to undergo a price reduction, according to this same study, so sellers stay put!
I agree that if you can convince the seller to price it right it will sell sooner for more.
Properly priced properties will produce quicker results. Sometimes there is no need to have room for negotiation.
If it's vacant, stage it - which always costs less than the first price reduction!
Beth is right - if it has to be vacant stage it. Nice post. Pricing is so critical!