Terez’s Tips for Selling Your Home- Part 4
By Terez B. Harris, Your Real Estate Advocate
(Keller Williams Realty New Orleans)
Know Your Competition The term real estate people use is “absorption rate” which means how many homes are for sale and how many homes have sold in the past 6 or less months. If you don’t know which homes you are competing with it is difficult to know where to price your home to make it more attractive than the competition.Know Your Expired Competition Another way of looking at expired properties is to consider them as properties that the MARKET REJECTED – they did not sell. Why didn’t they sell? Usually because the price did not reflect its condition or simply put – they were overpriced. There is a price for every property at which it will sell. The competition of homes for sale, homes that expired and homes that sold will determine what the price is. The market price is based on ...
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