What’s the art and science behind helping employees price their homes most effectively?
Effective real estate marketing isn’t guesswork. Real Estate Specialist Sherrie Witte sheds some light in this Relo Tip Tuesday.
“Hello, my name is Sherrie Witte and I am a real estate specialist here at Plus Relocation. Each corporate client has a unique perspective on how they want to support their employees who are trying to sell their home for relocation, but regardless they must sell as they move for work. Today I am here to answer the question, ‘When managing a corporate mobility home sale program, what is the art and science behind helping an employee price their home effectively?’
The first step is for your employee to meet with two relocation-trained agents before listing the home. Two realtors will provide a more thorough review of the market and allow the employee to make a more informed listing decision. In our experience, two sets of eyes will lead to proper pricing. It is also nice to compare one broker’s marketing presentation to another to see who offers more in terms of national website exposure, staging services, and professional photography.
After selecting the right agent, your employee should choose an attractive list price, as the home sale counselor will make a recommendation. Ideally, the list price should be ahead of the competition and in the same range as comparable sales. The strategy should be to capture the widest buyer audience by selecting a number on a price point. For example, if a house is listed at $400,000 it captures two buyer pools: those shopping up to $400,000, and those shopping $400,000 and above. So you can see, if you fall into the temptation to list higher such as $409,900 your employee can lose a larger buyer audience.
Sometimes an employee may want a price with negotiation room in mind. It’s a common thought for sellers to price higher with the mindset that they will eventually get what they want from the sale. This is just another way to overprice the home. Today’s buyers are educated and will recognize a fair price when they see it. When a home has good market value pricing in place, the employee should have the ability to hold tightly and offer negotiations. Pricing here will attract the most sincere buyers and provide for a timely sale to get the employee moving forward to the new location.
Following these steps should lead to a successful home sale program. Thanks for watching.”