How Features and Price Affect Home Buyers

Home Value Leads | November 21, 2018 | Uncategorized

One of the ways real estate agents can stand out is by creating a pre-listing presentation. Pre-listing presentations allow agents to get ahead of the pack. Most home sellers only call one, maybe two, agents to see a listing presentation. With a pre-listing presentation, agents can go to the front of the line.

Even though the pre-listing presentation can be spot on, though, most real estate agents must still provide a listing presentation. With the listing presentation, agents cannot only encourage sellers to list with them, but they can also convince sellers on the optimum price.

Price and features are entangled. Both work to convince home buyers to purchase. Adding information on price and features, and educating sellers how they work together, could go a long way in determining how quickly a home sells.

Check out info on price and features. We’ll start with price because it’s the most obvious.

Features and Price:  What Home Buyers Consider Most

Is Price Everything?

Constantly, real estate agents are in a battle with sellers over price. If you think back on the homes you’ve sold, you’ve probably run across plenty of sellers who believe their homes will fly off the market at a much higher price than what the market dictates. In a way, this makes sense because when a person owns something, they always over value it.

You know that a home won’t fly off the market if the price is above what the market dictates. Convincing a seller to lower the price on their home can be a scramble. Most home sellers are reluctant to do this. Even if you explain to them that if they go into the market with a higher than optimal price, it could take much longer for them to sell the home after they lower the price, sellers are hesitant.

Such is the power of psychology. Again, we value the things we own more than what they’re worth. How, then, do real estate agents get past the price barrier?

Explain How Features Affect Price

The easiest way to get past the barrier is to explain how features affect price. If a home seller doesn’t want to offer their residence at an optimal rate to ensure it sells within the first couple of weeks, the home had better offer features that justify the higher home price.

This is where real estate agents can work with sellers to try and get to a price that both satisfies sellers as well as attracts buyers. Features like a laundry room or patio can most definitely increase the price of a home.

The key is to find the soft spot where the home will sell. More than likely, that soft spot won’t be what the seller wishes, but it won’t be far off once you include features.

The next time a seller wants to stick to a price that you know won’t lead to a sale within two weeks, make sure to use your real estate agent knowledge and look for features that can help you find the optimal price. It doesn’t help to argue with sellers about price. Try to satisfy the seller by incorporating features into the price of the home.

The closer you can get to what the seller wants while still finding an optimal price, the closer you’ll be to satisfying the seller’s wishes and finding a home buyer. That makes it a win-win for everyone involved.

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