Some Boston luxury condo sellers simply don’t understand what pricing their property really means. When you select an asking price, you are not choosing the sales price of your condominium. You are simply choosing a marketing number.
I’ve seen Boston condo sellers agonize over whether to price their home $10,000 higher or lower in order to make more money. That is not the right way to think about it. When your setting a price with your real estate agent, all you’re really doing is making a strategic marketing decision on how your home should be priced. Again, this is not going to be the sales price.
As a marketing number, the price needs to make sense as part of a larger plan to sell your Boston condo. When pricing your property,think of Google and other search engines. You are positioning your home to sell on the internet. Price is about understanding who your buyer is and what they are doing.
Buyers today go online, type in a price point, neighborhood, and obtain numerous listings of condos that meet the parameters of their search. As far as price goes, where do you want your home to be in that list? In other words, where do you want your home to be on the Google search results. Google Analytic can tell you which price points are most typed in, searched. Having knowledge of this is very important when marketing your home.
When you choose your price, you should position yourself to maximize your property’s exposure and drive maximum traffic. If you have any questions, give me a call or send me an email. I would be happy to help you