Listing Price is important but the old saying location location location that helps too.
I just put together a listing for a previous client that was selling a rental house that the tenant he had totally trashed. ( Past clients are the best.:) Thank you Chad!
My most recent listing gave me the idea to write about What to List for Blog?
I talked to the owner about the market in this area.
1) The market was Illinois Rockford IL area.
2) The town was Machesney Park IL a smaller town just to the north of Rockford IL.
3) It was in the Harlem School District which tends to demand a higher price.
4) The homes in this market are small ranches. Some with basements some with out. The homes in this area range from 500 sq/ft to about 1200 sq/ft.
5)This area sit up on top of a hill so it is high and dry.
6) The Price range in this area were between 50,000 to 100,000. A good for first time home buyers or investors in this market.
7) We talked about this home and it was just over 600 sq/ft with a full basement that was somewhat finished. The owner was wondering what he should do to fix up the home or sell it as is. The as is was not going to fetch a very good price so he decieded to fix and get into move in ready condition.
8) It took about a month for the seller to do what he needed to do but it will pay off.
9) We decided to list in the low 70's. With the amount of work the owner did it was ready to move right into. ( This was also the average sale price and medium sale price for the area)
10) Took Pictures with a new Wide angle lens which made each room look its best and view the most. It was worth the $500.00 bucks. You have to make it look great on the line. (Google movie - you have to see it to get the on the line line.)
11) So we listed it on a Thursday. I was able to get it into the mls by midnight on Thursday and we would see how it goes.
12) We booked several showings by noon and by 400 pm on Friday it had an accepted offer.
13) Location, Condition and List Price had a lot to do with it. The market still is slim pickings in the area so that helped.
So the moral to this story was to do your research, get the property into a move in ready condition and price is right not too low and not too high.
The work you put in and it will pay off for your client and you.
I wish they all worked like this. They can if you put in the work and inform your client of the market for the area and what they need to do to sell.
Have a Great Week End!
Thanks for Reading!
Real Estate Rescue Team
Century 21 Affiliated Rockford IL
7210 E. State Street Rockford IL