Competitive Pricing

       Buyer Traffic

• The first graph above illustrates the significance of pricing a property to correctly. The centerline represents market value. As the price moves above the market value, the listing attracts a much smaller percentage of prospective buyers, greatly reducing the chances of a sale. Conversely, as the price move below the market value, a much larger percentage of potential buyers are attracted.


• The second chart is a representation of typical traffic flow for a new listing over time. When a property comes on the market, ready buyers schedule showings to compete with other buyers for the chance to purchase. It is critically important to be priced correctly from the beginning to take advantage of this peak interest and excitement which reduces dramatically as the days go by. Negotiating a number of offers during the first few weeks is likely to produce a far better position and a higher market price for a seller than waiting for a new buyer to enter the market later after the listing has become 'stale'.


• The final illustration to the right is one of 'position'. Many people equate the position of buyer and seller as one of opposition. With service to our clients' interests at the forefront we do not view the parties to a transaction as protagonists. We view any potential transaction as a possible 'winner' and complimentary for all involved. There can be no sale without a buyer and there can be no purchase without a seller.
  
  There can be many factors influencing a transaction with buyers and sellers viewing the many pieces of a potential transaction with a different weight in value. Many criterions are seemingly more objective in nature such as, pricing, land area, property condition and age with factors such as location, environment, local economies and amenities also playing a part in defining the price point position. Subjective elements like the neighborhood school, regional climate and mountain or sea shore living although less measurable statistically can affect the market price position.
  
  Regardless of factors involved the market place does define itself in objective terms by posting closed transactions. All of these elements should reviewed and vetted in the planning process to create the foundation of a successful transaction.