The Following Article is from the Summer 2007 Newsletter
In an active market, like the west side, selling your house for top dollar and selling quickly usually go hand-in-hand. A house needs to be priced accurately and marketed properly in order to attract all of the potential buyers at the very start of the listing process.
If all the buyers that may be interested in a house see it in the first week of the listing, the chances of multiple offers, or of someone paying top dollar to steal it off the market, are dramatically increased.
So the real question is, “How do we get all the buyers currently looking for a house in the area to see it the first week it hits the market?” The answer: pricing and marketing. First, the price needs to be at or just below market value in order to create a buzz and attract the widest price range of buyers. Remember, the market will always correct the sale price upward in a multiple offer or quick buy situation, but overpricing results in less activity, longer time on the market, and a lower ultimate selling price. The second, and equally important a variable, is an accurate, well timed, and far reaching marketing effort. Buyer’s find homes from all different sources: agents, websites, newspapers, open houses, etc. The key to a quick sale is having all these avenues of marketing unfolding simultaneously. These results in all active buyers becoming aware of the house for sale at the same time and thus, making competing offers to drive up the purchase price.