Market conditions fluctuate, but two things remain constant when it comes to getting the most money for your property. First, setting a strategic price to attract the most buyers. Second, vetting buyer interest to ensure you find a serious offer worth pursuing.
Whether you’re in the process of listing a property for sale or your property has been sitting on the market with little action, reviewing your real estate pricing strategy and buyer vetting processes is critical to moving forward with a successful sale. Read on to learn more about these real estate sales tactics to maximize your listing.
Strategic Real Estate Pricing Strategy
Every seller wants to get the most money possible for their property, but assumed value means nothing in real estate. Market conditions, local inventory, property type, and buyer personas play pivotal roles in developing a real estate pricing strategy.
As a real estate broker in Western Colorado, I’ve seen the market fluctuate, had the privilege of helping sellers make more money than they expected, and also had to level expectations when I know a seller wants more money than their property is worth. Before you sell your property, understand these five elements that influence your pricing strategy:
- Price Your Property Strategically
- Use Price Points
- Get a Pre-Appraisal
- Get a Pre-Inspection
- Develop a Strong Real Estate Marketing Strategy
Finding a Serious Buyer
Picture this. You place a “For Sale” sign in front of a new listing. It’s a log home on 44 acres of irrigated land bordering BLM in Western Colorado… pretty niche. Within hours, you’re getting phone calls to schedule showings. Are all of these buyers actually interested and ready to pull the trigger?
Vetting buyers means asking the right questions to eliminate homes on paper before going to check them out in person. If someone has only seen a sign in the yard, they have no idea about the property’s price, number of bedrooms and bathrooms, infrastructure, acreage, or anything else.
I’ve developed a tried-and-true process of vetting buyers so I only bring the serious ones to my clients. Discover the four necessary steps and questions you can ask to determine if a buyer is serious about a property.