Below, is an overview of these 4 fundamentals and why they are the guiding principals for Bridgestone Properties every time we SELL a home.
1. Market Based Pricing
When the initial list price for a property is too high for the current market, it guarantees that the property will be on the market for an extended period of time. A consequence of an extended time on the market is that potential buyers develop an unfavorable opinion of the home prior to even viewing it.
Rational or not, buyers often continue reading…
Rational or not, buyers often continue reading…
believe that there must be something wrong with a property if it has been listed on the market for a long period of time. To avoid this, Bridgestone Properties uses an exhaustive market based comparison approach to insure that your home is priced right from the start, allowing us to sell your property for the best possible price in the shortest time possible.
When a broker suggests a list price for the sale of a home based on what the broker thinks the seller wants to hear instead of what the market will bear, then that broker is lying to their potential client. People’s time and money should not be wasted and listing a home too high is a huge waste of everyone’s time!
Homes have a value and there is data that illustrates what that value is. This is why within 24 hours of meeting you and seeing your property in person, I will present you with a market analysis that will suggest a list price that your home will sell within 5% of – or I make less commission for being wrong. (See # 4).
When a broker suggests a list price for the sale of a home based on what the broker thinks the seller wants to hear instead of what the market will bear, then that broker is lying to their potential client. People’s time and money should not be wasted and listing a home too high is a huge waste of everyone’s time!
Homes have a value and there is data that illustrates what that value is. This is why within 24 hours of meeting you and seeing your property in person, I will present you with a market analysis that will suggest a list price that your home will sell within 5% of – or I make less commission for being wrong. (See # 4).
2. First Impressions are Everything
A recent study has shown that over 90% of all homes sold were viewed for the first time on the internet by the eventual buyer. This is an enormous change in a short time for the real estate industry and has literally made how well a broker “Markets” a property their most important skill set. At Bridgestone Properties we love that technology plays such a huge role in the art of selling a home and we are always on the cutting edge. From having our own drone for ariel shots to continue reading…
using cutting edge cameras to create a 3D virtual tour that allows prospective buyers to virtually tour your home from their computer, we spare no expense to insure our listings are presented online in the best possible way. The pictures and other web based presentation tools are now truly the difference between a buyer seeing and potentially buying a home and a buyer simply deleting it from their search never to be considered again as a viable purchasing option.
This is why we create a specific website for all of our listings so we can direct buyers to as much detail about our listings as possible. There are always many homes for sale and making our listings stand out against our clients competition is our most important task, one Bridgestone Properties excels at.
This is why we create a specific website for all of our listings so we can direct buyers to as much detail about our listings as possible. There are always many homes for sale and making our listings stand out against our clients competition is our most important task, one Bridgestone Properties excels at.
3. Knowing your target buyer
Every property has a target buyer audience, whether it is a waterfront mansion, cape style starter home, bi-level condo with city views or a 3rd floor one bedroom walk up near the T. Identifying and marketing for this buyer audience is crucial in the sale of a home. The key is continue reading…
knowing what the marketable aspects of a certain type of property are and how they will appeal to different types of buyer groups.
For example, a starter home is being marketed to primarily 1st time buyers who have overwhelming concerns in regards to the costs of potential work and improvements a home might need. That is why a property that may be aesthetically challenged or seem dated on the inside but has a newer roof, mechanical systems and electrical service in place is a great fit for this buyer group.
This type of property needs to overcome its challenges in being marketed visually by having a plan to present it to the buying public with a strong focus on its aspects that truly meet the needs of those buyers who would most likely be looking to purchase it.
A house near the center of a town that dates back 100+ years has a different target buyer than a similar sized home built in the past 15 years in a cul-de-sac neighborhood further away from the hustle and bustle of any towns main downtown area. Too often, homes are marketed with no clear sense of who they are trying to attract and instead try the shotgun approach to cover any and all potential buyers.
Unfortunately this approach makes a home miss its target buyers right off the bat and forces a property that was very sale-able to sit on the market and lose value as a result.
For example, a starter home is being marketed to primarily 1st time buyers who have overwhelming concerns in regards to the costs of potential work and improvements a home might need. That is why a property that may be aesthetically challenged or seem dated on the inside but has a newer roof, mechanical systems and electrical service in place is a great fit for this buyer group.
This type of property needs to overcome its challenges in being marketed visually by having a plan to present it to the buying public with a strong focus on its aspects that truly meet the needs of those buyers who would most likely be looking to purchase it.
A house near the center of a town that dates back 100+ years has a different target buyer than a similar sized home built in the past 15 years in a cul-de-sac neighborhood further away from the hustle and bustle of any towns main downtown area. Too often, homes are marketed with no clear sense of who they are trying to attract and instead try the shotgun approach to cover any and all potential buyers.
Unfortunately this approach makes a home miss its target buyers right off the bat and forces a property that was very sale-able to sit on the market and lose value as a result.
4. Putting our money where our mouth is
As discussed in the 1st Fundamental, the most important factor to both how fast a property sells and how well it is received by the buying public is its initial pricing. Buyers are very knowledgeable these days. They look at a large number of properties before making a decision and continue reading…
as a result get to know a market and the values within that market as well as most real estate brokers.
If a property is listed too high, our experience has been buyers will prefer to wait until the “seller is more reasonable” before they will even schedule a showing to go see the home. That is why if we suggest a list price and the eventual sale price is more than 5% lower than what Bridgestone Properties initially suggested, we reduce our side of any commission by .5%.
For example, this means on a property that we list and sell for $400,000, with an outside brokerage representing the buyer Bridgestone would take $2,000 less in commission for analyzing the value of our listing incorrectly if that home was listed for more than $420,000 at our suggestion.
If a property is listed too high, our experience has been buyers will prefer to wait until the “seller is more reasonable” before they will even schedule a showing to go see the home. That is why if we suggest a list price and the eventual sale price is more than 5% lower than what Bridgestone Properties initially suggested, we reduce our side of any commission by .5%.
For example, this means on a property that we list and sell for $400,000, with an outside brokerage representing the buyer Bridgestone would take $2,000 less in commission for analyzing the value of our listing incorrectly if that home was listed for more than $420,000 at our suggestion.