The Number 1 Secret to Selling Any Property for Top Dollar
I am asked so often how I help my sellers get top of market for their property, I decided to write about it.
Everyone wants to get top dollar for their property but few achieve that.
Here is how YOU can achieve top dollar.
Understand the Current Market
The best way to understand market value is through comparative research. This is the first step to success. Get an experienced broker to help you. They have access to “sold” numbers, not just the “list” prices that everyone sees advertised. The sold prices in Montana are undisclosed and often difficult for property owners to find.
Experienced brokers review and study everything that is going on in the market, often reviewing 40 to 60 sold properties, personally visiting 10 to 20, and narrowing the search down to 5 to10 properties that are actually comparable to yours. This is the only way to develop a sense of how your property compares to others.
Tell the experienced broker to give you a realistic market analysis, not an analysis to just “get your listing”. Experienced land brokers will typically value properties in the same range. The experienced broker will want to help you sell your property swiftly and suggest a list price just above what the actual sold research discovered.
Why Understanding the Market is Critical
A property that is actually priced correctly is RARE. Very rare. It immediately gets buyer’s attention. They are highly motivated and want to see the property and if it fits them they will swiftly make an offer. By having the right price the buyer and their broker is confident and will make a lowball offer and risk losing the property.
The right price will cause a sense of urgency or excitement and the buyer’s adrenaline will be high and in many cases the buyer will offer a price even higher than the list price. This is much like the auction process, also known as the “auction effect”. The buyer knows this property will not last and if they want it they must get the seller’s attention and commitment.
Rarely do these transactions fall apart and most become new “top of market” sold comparable for the area. Take advantage of a buyer’s “positive emotion” and put the momentum in your favor.
Ask an experienced land broker to do the research and give you an honest market analysis.
This is my 25th year successfully pricing property. I can help you determine the fair market price for any property. And ensure that you have the tools and information you need to make an informed decision. I’ll help you every step of the way.