Another great example of how we are able to net our sellers the most money with our unique and innovative marketing techniques. We are marketing experts who utilize exclusive marketing campaigns that no other realtor does in the area. In this case, we wanted to test price. So, we listed at $285,000. For three weeks we analyzed the statistics and numbers of inquiries on the home. We had no inquires and the stats were not impressive. I then consulted the sellers and we reviewed the data and decided to try a price of $275,000. That was our number! I had a number of agents calling me about the home, and stats shot through the roof! This is a great illustration that when you overprice by $10,000 you could really be hurting yourself in the long run. The coming soon campaign allows us to play with price to find the right price, so a seller does not waste precious days on market. As a side note once a home sits in the market for 30 days it becomes old in buyer's eyes. That is why pricing from the start is critical.
Remember, the goal of the “Coming Soon!” is to create demand. More Inquiries = Higher Demand and Higher Demand = Highest Selling Price. So, at $275,000, I had realtors with buyers lined up to see the home. I put the home into our multiple list service and started showings 2 weeks after being listed at $275,000 on the coming soon.
It went on the market on a Sunday with showings to begin Monday. In the MLS we advised all realtors that offers where to be presented on Friday at 1 pm That really generated Demand! By Friday, we had 6 offers, then played them against each other. In this case, instead of going for more money, the seller went for the offer that asked for the least repairs done to the home. The coming soon created the demand which put the seller's in driver's seat.