Your Pricing Strategy Could Be Costing You Money

Colleen Kulikowski June 8, 2016

Today’s savvy Western New York buyers have been told it’s a “Buyer’s Market” and they are wanting a real estate deal and therefore ignoring overpriced homes. If you thought the three magic words in Real Estate were Location! Location! Location! You would be wrong. Today the single largest factor driving buyer’s purchasing decision is based on PRICE!

Not Pricing Your Home Correctly:

  • You are enabling your competition to sell faster than your home. Look long and hard at your competition, see why they have a sold sign and you do not.
  • You are missing the target group for your home. They are not seeing your home because it is not priced correctly. Buyers in that price point know it and ignore your home.
  • You are missing undecided buyers. Buyers have done serious research in not just one community, but several Western New York communities. They may be in love with the Wheatfield area, but will consider North Tonawanda, Orchard Park, Lancaster, Amherst or Grand Island if the right combination of factors occur.
  • You are wasting time. Every day you have your home overpriced, you are losing valuable time in getting your home Sold. The reality is: The first 30 days are the most likely time a home will sell, if it doesn’t in the first 60 days you have a 50/50 chance of selling.

Buyers know what it costs to replace a roof, remodel a kitchen or a bath. They will make offers factoring such items in. How do we know this? Because we work with home buyers all the time and we know what we advice them. Sometimes the best thing you can do is make those changes! There are times that a $3,000 repair is more effective than a $15,000 price reduction.

How About One Of These Homes?

All statistics are gathered from the Buffalo Niagara Association of REALTORS®.

For more information – call our J. Philip Real Estate Team at: (716) 650-0051

Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call us at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you topurchase a home.

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