Business and economics |

Knowing your numbers in Real Estate is absolutley essential, most people focus their attention on the obvious and important ones like List Price, Days on Market, Price Per Square Foot, etc…However, when you are marketing a home for sale the most important numbers are really quiet different. Numbers like ”how many people have seen my house and know it’s for sale?” are essential but hard to find. 

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What constitutes a “Deal”? I think this one is a question of perceived value. In other words how is the home priced to begin with. If the home is priced correctly, we are generally seeing offers starting in the 5% to 3% below list price range and sales prices from 2% to 3% below list price.

If on the other hand the home is excessively over priced offers can start in the negative double digits 15% to 20% below list. The attitude we are seeing from home buyers is, “Hey if you’re going to be unrealistic, so will I”. It’s almost like buyers are seeking some sort of justice or revenge for the hit they took when they sold their homes. It become important for the Buyers Agent to maintain a realistic/non-emotional perspective of how the home is priced in relation to the local marketplace.

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