Thursday, September 05, 2019 / by Jake Angelo
Secret number four is do some home shopping yourself. When listing your home or if you're thinking about listing your home, make sure you get out there, you look at some open houses. It's very important to know what your competition is. It's really important to know houses that are on the market, what their floor plans are, how big their lots are, what kind of features of the homes they have, what kind of finishes.
Particularly note that the asking price of what they are actually asking for. So, there's the asking price and there's the selling price. It's really important to know both.
Sometimes the asking price is basically just la la land, fantasy price. So, you need to read between the lines. If you're just trying to figure this out on your own, preliminary stage, what you really need to know, you need to be looking at what's available, your competitors, your neighbors who are selling.
What has sold in the last 30 days or 90 days or you can go as far as 180 days? And what has not sold? What are the listing that have overpriced and they expired? - that means they did not sell. Do you want to end up like one of those sellers? Or the ones that have sold their home quickly for the right value?
You don't want to have to keep listing our home and then having to do price reductions every few months, right?
Basically, if you overprice your home, you're just helping your neighbors sell. Find out what the best, your most comparable competitor is, and just price them right below what they're asking for, but not to leave any money on the table.
And that's the key with this particular secret. You do not want to list your home more than your neighbors, because again, you're really just helping them sell their home, and your house is going to be sitting on the market. You'll get the leftover buyers.
If you ever want to make sure you get access to the sold data, I know there's different websites that you can get it from online, and I'm not sure how accurate those would be, but if you really want to plug yourself into this data and find out well ahead of the time, you're actually going to put your home on the market, the research stage, all we have to do is set you up. We have a software system that can send those to you as often as you want. You can have it sent weekly, monthly, as often as you like.
So, you can call us at 647-977-9752 and we'll be happy to do that for you. But more importantly, make sure Like and Follow us our Page and get up-to-date Tips daily for FREE!
Watch full video here: https://youtu.be/5GDrS8oGi70