Sell Marina del Rey and Venice Homes, Townhomes, and Condos
Are you concerned about getting the right price when you sell your
Marina del Rey / Venice home or investment property?
Have you noticed that similar homes in Marina del Rey and Venice often sell for vastly different prices? What would cause one house in Marina del Rey or Venice to sell for more than another house just down the street?
How do you avoid selling your Marina del Rey/Venice real estate to low?
We have just witnessed one of the worst real estate crashes in the past 100 years. Prices have dropped more than 50% in many areas and many areas will continue to drop.
Foreclosures, short sales and REO properties are setting prices in many markets.
This can have the same effect as a new Wal-Mart opening next to your local retailer. Does Wal-Mart force everyone to reduce their prices to stay in business?
Not if the retailer knows how to compete based on factors other than price.
Are all apples the same?
The answer is all apples are not the same. There are red apples, green apples, Fuji apples, you get the point.
Marina del Rey and Venice Condos, townhomes and houses are typically priced based on a comparison approach.
Comparing apples-to-apples.
This works fine for a new housing track with 50 brand new identical homes. The error of margin widens when you compare condos, townhouses and homes in Marina del Rey and Venice that often have very different styles and characteristics.
What is value?
The actual value of an object or piece of real estate is really not important. What is important is the Perceived value.
One person may perceive the value to be less and another may perceive the value to be more.
For example.
Assume you were looking for a new 2,500 square foot home in Venice with manicured landscaping and a gourmet kitchen. You would probably think the lonely dilapidated 1,000 square foot eyesore sitting among the newer larger homes in Venice had a lesser value than the comparable home on the street.
You would probably hope it was condemned by the city and used as a park.
If I told you this Venice property is priced the same as the newer homes on the street you would think I was crazy.
But if I showed the same Venice property to a builder with a set of approved plans to build six brand new homes that would result in a 300% net profit, the builder would have a much different opinion.
The point of this example is that it is possible to achieve a higher price if you understand that a property in Marina del Rey or Venice may have a different value based on its highest and best use or other factors that need to be uncovered, explained or resolved.
Then it's just a matter of reaching the right "Target Audience". In this case, home builders.
Perceived Value can be a double-edged sword.
Perceptions can be small. But many real estate deals have failed do to small problems. Why? BUYERS REMORSE.
Small problems often grow into really big uncontrollable extremely scary problems. (In the mind of a buyer).
This assumes of course that other small problems or negative perceptions did not prevent the prospective buyer from even considering your home in the first place.
Why a trip to your optometrist may result in a higher price
If your glasses are old it might not be a bad idea. But in all seriousness, you do need a fresh set of eyes.
Chances are you feel as spry as you did back in high school. But if you pull out the old year book, you will probably agree you don't exactly look the same.
Your home probably looked a little different a few years ago also. And you have forgotten about some of those repairs you meant to fix a while back.
Not just any eyes will do. If you want to achieve the highest price you need to see things through the buyer's eyes.
Six eyes are better than two
If you need to see things through buyer's eyes, speak with the people that work with buyers every day.
An experienced real estate agent and professional home stager can tell you what buyers want and make suggestions to remove Negative Perceptions that may impact the price.
An experienced contractor or home inspector can spot potential problems in advance so small problems don't become big price reductions at the 11th hour.
Download "Simple steps to maximize the sales price"
Will the Web waste your time?
We have been advertising on the web since 1994. Well before Google became a household name.
The Internet won't waste your time, but using the wrong Internet strategies will waste your time. And if your home is sitting on the market you are losing money every day.
Real estate agents are all looking for the latest buzz words and marketing gimmicks to get listings. Facebook, Twitter, and listing syndication all sound impressive.
But the truth is, most agents get limited results using these tools.
Hits don't sell bricks
Traffic is irrelevant ( unless you commute in Los Angeles).
If you owned a tennis shop which would you prefer:
1) A couple walking into your store wearing tennis outfits with a broken tennis racket.
Or
2) 100 people leaving an adult day care van for their daily outing walking through your store.
If you owned the tennis shop you would have a higher probability making a sale to the couple than to 100 elderly people looking for entertainment.
If you interview real estate agents, and they brag about how many hits their website receives, its time to ask for more specific metrics.
Quality over Quantity
It's not the quantity of people that see your marketing that counts. It's the quality.The more relevant your advertising is to your target audience, the higher your conversion rate.
For example, let's compare these two ads:
1) For Sale Marina del Rey Home
Call (310)-000-0000
2) Marina del Rey Townhome
"Silver Strand location"
$575,000
Call (310)-000-0000
These ads could be on Google or the local newspaper.
Ad #1 will probably receive more phone calls. But they will be from people looking for homes in all price ranges, different areas of Marina del Rey, etc.
Ad#2 is focused on Buyers in a specific neighborhood and price range. You may receive fewer calls, but the calls you do receive will be of higher value.
Both of these ads have other problems, but the point is reaching the right audience is more important than reaching the largest audience.
Do you know Jack?
Not that Jack. I'm referring to Jack of all Trades. When it comes to selling real estate there are many Jacks out there. Jack is a smart guy and figures he can do everything on his own.
He takes his own photos, writes his own ad copy, updates his website, buys advertising, and places ads on Craigslist. Jack is industrious and works wherever he can find a buyer or seller.
The problem is Jack does not know Jack about marketing. The worst thing is Jack does not know how little he really knows. This is no surprise. Jack has no method to track his results.
Who's on your team?
Many real estate agents work on a team. The team may include a few agents from the same office or it may include an agent with various support staff.
This is not necessarily good or bad. What's important is what specific job functions are handled by a specialist. Is Jack just spreading his work load to other unqualified people?
It's important to hire an experienced negotiator. But it's even more important to hire a professional marketing team. To find out who should be on your team download the free report
Chase Realty Advisors is in your corner.
Providing Care, Guidance and Protection
Take some time and get to know us. Learn from our experience and explore all of the knowledge we share with you on this site
It's easy to suffer from information overload on the Internet. Let us help you make sense of it all.
Don't take chances. Take Chase
Do you have questions? The answer is just a phone call or email away.
800-780-4042 EXT 9066 or Email Us