The content of this article may be the key to your future prosperity. For it holds the key to what so many have searched before. The text is not based upon hearsay, not based on opinion, but rather predicated on actual data. In these days when everyone has an opinion on the anemic housing market its good to know that someone has performed the research, culled the data and drawn careful conclusions. The key to selling your Pasadena home in this current market will soon be revealed.
I should also point out that our research department which is staffed by six figure MBA’s had the afternoon off. Actually they have every afternoon off, since we do not have a research department. Regardless, the thesis for a successful property transaction was discovered in about an hour. Not by mere accident like rubber and the telephone, but by attempting to prove a theory. A guess, that there was a correlation somewhere between why some experience success while others deal with frustration and failure.
Selling houses is not rocket science, no matter what some agents would try and get you to believe. There is no magic bullet, no formula that has been passed down through the ages. No one particular agent or company has “the power”, for if they did it would have been published long ago, allowing the keeper of the flame to cash out and make millions of dollars on speaking engagements and book publishing. Real estate agents know this, however there is an implied oath, that it never be divulged or publicly exposed for fear of succumbing to the status quo. Its Superman’s kryptonite. The myth must continue to be propagated.
It Should Have Been Obvious
Sometimes we attempt to make things more complex than they should be. However the secret to a successful property transaction is so simple, it should have been announced a long time ago. In fact, we obfuscate the real issue with terms such as “staging”, “curb appeal” and rosy laced language we forget we are selling real property, instead of trench coats for J. Peterman.
The Secret Announced
Your success or failure in your property sale will be determined from day one. Once your house hits the market and has been announced that it is “For Sale”, your strategy has been plotted and your motive announced.
For the key to maximizing your value, the difference between success and failure all comes down to one thing……..the listing price
The data analyzed was residential sales for the month of May in Pasadena, California.
The numbers indicate that if your house is priced correctly from the beginning, two things are likely to happen:
- The house will sell for more money
- The house will sell in less time
The chart shows when properties are listed too high, they tend to chase the market and take price reductions, selling for less and less of their asking prices. The result is longer selling times, therefore reducing the value.
In a declining market, time is money, and the longer your home sits unsold, well I think you get the idea.
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