In the last 12 months, nearly as many listings expired in the market as sold. For sellers who are serious about getting their homes sold, that presents a huge dilemma. Clearly, traditional methods for marketing real estate have become outdated and ineffective. CMA’s alone are no longer a reliable tool for predicting a home’s market value.
At Liz Moore & Associates, we take a different approach to both pricing and marketing. We
don’t believe that “one size fits all” for a marketing plan, nor do we believe that a computer program can effectively recommend a market value.
We have reinvented the process by beginning with the end in mind, and have accordingly developed a pricing methodology that delivers better results for our clients. Our agents perform a rigorous 10 step analysis before they recommend a positioning strategy specifically for your home.
1. Odds of Selling
We study months’ supply of inventory, absorption rates, and a number of other factors to determine where we need to position your home to be the best value in its category.
2. Identify Target Buyer Profiles
To catch a buyer, you have to think like a buyer! Yet, most agents skip this critical step altogether. In order to develop an effective marketing strategy, we must first determine our target.
3. Create a Positioning Strategy
All competition is not comparable! In this phase, we look through the prospective buyer’s eyes, and run likely search scenarios to evaluate the active competition.
4. Adjustments
Once we have an idea of the direct competition, we analyze your home’s best features and challenges in a weighted comparison.
5. Will it Appraise?
Because most buyers today get a mortgage, we also have to consider what a lender will lend in terms of an appraisal. That’s where our No Surprises program comes in! We take the guesswork out of this step by ordering a pre-listing appraisal at our expense.
6. Condition Assessment
Our No Surprises program also includes a pre-listing home inspection at our expense, which identifies issues up front so you can put your home’s best foot forward when it hits the market.
7. Staging ConsultationStaging Consultation
We believe so strongly that staging provides the competitive advantage for our sellers that we invite a professional stager in at our expense.
8. Benchmarking – Assessed Value
We’ll research your current tax assessment in order to spot appreciation or depreciation trends, accuracy of data, and ratios of sold prices to assessed value.
9. Benchmarking – Price per Square Foot
Another consideration for today’s buyer is a comparison of price per square foot of competing homes.
10. Forecasting
Once we list your home, our job has only begun. Markets are dynamic, and values change with each new listing or sale. We study expired and pending sales daily, and set you up to receive auto email alerts in your market segment, so that together we can monitor market changes in real time.
Are you thinking about putting your home on the market? Email us at concierge@lizmoore.com or click below to talk with an agent about our 10 Step Pricing Methodology.
