By Steve Levine, President of Steve Levine Inc., and an agent for REMAX Professional Associates
Does a higher net price sound good to you? I thought so! Here are a few quick tips. One of the easiest and most obvious ways to increase your profit is to sell for a higher price. So often I see homes which were put on the market thousands of dollars too low.
Establishing “Fair market Value” in unusual market conditions such as these can be very difficult. In the past, we relied on detailed reports of “previous comparable sales” in the neighborhood. Nowadays, however, the fact that the home across the street sold for $450,000 a month ago is less relevant, when compared against the rapid fluctuations in what buyers are willing to pay based on supply and demand issues. Needless to say, pricing the home based solely on “past sales” can shortchange the seller. I saw one in my town last week that I’d bet could easily have sold for $25K more if they’d priced it better.
The second way to increase your net price on the home is to decrease the amount of extraneous expenditures involved in the sale. Brokerage commissions are probably the largest single expense involved in the selling of a home, so it’s vitally important to make sure that you get the best possible value out of it.
Just as important as not overpaying, however, is not to skimp, hiring just any agent who would work for a couple of dollars less, and who’s “true” marketing plan calls for “dumping it in MLS and praying for a sale.” Remember, an agent working for too low of a fee has little incentive to sell the property, and could just as easily be using it to bounce buyers to other homes.
One obvious solution would be programs like the “Homeowners Blend,” which can reduce the commission on the sale of someone’s home by up to 50 percent, while still providing the same full service that you deserve. This truly works wonders, as so many will attest. Imagine the joy of a seller who sold in under a day, and who paid only a 2.5 percent TOTAL fee…saving over $10,000!
As you may recall, in my past columns, I offered up a set of free reports that I felt would truly change the lives of some local homeowners. I can’t even tell you how many folks I heard from, both to ask for the reports themselves, and then afterward to follow up and tell me how helpful they were.
Report #1 – “The Top 10 Reasons Homes in Central Massachusetts Didn’t Sell.“
Report #2 – “10 Ways to Increase the Net Sales Price of Your Home.”
Report #3 – “The Top 10 Home Improvements that Yield the Greatest Return.”
Report #4 – Establishing the Optimal Listing Price for a Top Dollar sale.
In that last report, I talk a bit about the classic dilemma of overpricing versus underpricing, and the fact that often, if you play your cards right, you can get more by asking less. Of course, other times, it’s better to defy the comparable sales and ask more. We’ll talk about how to evaluate that in detail, and come up with the best strategy for you and your family.
If you’d like a copy of any or all of the above, just email me at [email protected] and I’ll email you back copies of them to review.
Steve Levine is president of Steve Levine Inc., and an agent at REMAX Professional Associates in Shrewsbury. He has over 28 years of experience in the local marketplace, and has been ranked 10 times as a Top Agent in New England. He can be reached at [email protected] or 508-735-4663.
Steve Levine, Inc.
#1 REMAX Agent
in New England – 10 Years
E-mail: [email protected]