Kelly Bailey

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Get It Right

Money house

A seller needs to understand that the issue is not what they wish to get, but what a willing buyer and informed buyer will likely pay. Generally the greater the disparity between the market value and the listing price, the less chance of a sale within a reasonable period of time.

Over pricing the home is one of the worst things you can do and will result in a negative situation for the home owners. It's difficult to overcome from a home that is priced to high and will only prove costly for everyone involved.

Seller:
property doesn’t sell in a reasonable amount of time or doesn’t sell at all.

Potential buyers:
they will avoid the property or just use it for comparison purposes to sell other well priced properties.

Right buyer:
it’s over looked by the ideal buyer given the unrealistic asking price. 

The property:
the unsold home is adjusted downward, market staleness creeps in and few notice the lower price. Buyers can assume there is something wrong with the property. Seller could have to re-list just to gain some market momentum.

Brokerage and Salesperson: Negative Advertising, Unhappy Client

A new listing hits MLS and salespeople race to get the details to their buying client.  Oh wait first things first is the house correctly priced.  People lose interest in the home if it is overpriced.  Once you have noticed that no offers are coming in or sales representatives are telling your agent it is overpriced because they also look at the comparable. Well it's too late. Your momentum is out the door.  The longer you remain on the market the less interest potential buyers have toward it.  It's a fact homes that are priced properly sell now and for more dollars in the first weeks of the selling listing.  Kelly is very good at pricing properties. 

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How Do You Determine The Price Of A House

Comparative market analysis: comparing your property with others in the marketplace to establish a listing price.

  1. Comparable: detailed information top two or three in each category.
  2. Current trends: major market trends within neighbourhood and surrounding community
  3. Past trends: how long average days on market, listing to sale price ratios
  4. Strengths weaknesses: objectively evaluate the comparable to subject property
  5. Avoid overpricing: above
  6. Not an appraisal: used for marketing purposes.

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Kelly Bailey
Sales Representative

Scott Bailey
Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage
720 Guelph Line,
Burlington, ON L7R 4E2

Areas we cover: Burlington, Hamilton, Waterdown, as well, we can find properties in other surrounding areas, a client maybe interested in; plus areas further out, we can refer RE/MAX agents to assist in your search.

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