Marketing Your Property
Successful marketing of a property requires more than a yard sign and a classified ad. The key to real estate marketing is to thoroughly introduce the property to the real estate community.
Prudential Real Estate sales professionals are perfectly positioned to gain maximum exposure for your property.
Features that differentiate our sales professionals include:
Online Seller Advantage
Through our advanced Internet technology, your Prudential Real Estate sales professional can provide your property unique Internet exposure, while providing you comprehensive real-time information about your property, such as the number of Web viewers and home-tour requests and information about competing listings such as price changes, buyers who searched for homes in your neighborhood, and new competing listings.
With Online Seller Advantage, you have the benefits of daily emails about Web activity on your property and those in your neighborhood, including:
- The number of Web viewers
- The number of buyers who searched for homes in your neighborhood
- Home tour requests
- Price changes on properties in your area
- New competing listings
- Featured Property status on Yahoo! Real Estate and Prudential.com
- Instant alerts to registered buyers who have targeted a home just like yours
International Broker Network
The Prudential Real Estate Network has nearly 2,000 member offices and 64,000 sales professionals throughout the United States, Canada, and Mexico.2 Prudential Real Estate affiliates network with other brokers to exchange information. This cooperation provides a marketing opportunity that generates buyers and leads for your company regionally, nationally, and internationally.
Prudential Value Range MarketingSM
Prudential Real Estate is the only provider of Prudential Value Range MarketingSM (PVRMSM) in North America. PVRMSM attracts more potential buyers to look at your home. That can mean a quicker sale at a fair price.
Fortune 500 companies, government agencies, and hundreds of corporate clients rely on Prudential Relocation to assist their transferees with every aspect of their relocation. This service provides the network’s sales professionals with a direct pool of qualified, active, potential buyers.
Enhance Your Home’s Appeal
The market isn’t the only factor that influences a home’s selling price. When preparing your home for sale, remember the importance of first impressions. Appearance and overall condition play a major role in selling it. Maximize your home’s appeal with these tips.
- Important Reminders
Some industry experts suggest that more than half of all homes are sold before the buyer even gets out of the car. Stand across the street to assess your home’s curb appeal.
|Are your home’s front grounds clean and neat?
- Sweep the front walkway
- Remove newspapers, bikes, and toys
- Mow the lawn more frequently
- Plant flowers
- Trim shrubs and trees
- Keep pet areas clean
|Are extra cars parked in front?
- Park vehicles away from the property or keep them out of sight
- Remove oil stains from the driveway
|Does the front of the house look clean?
- Apply fresh paint
- Clean windows and their coverings
- Ensure the roof and gutters are in good condition
Help potential buyers envision themselves living in your home. This presents your home in its best light.
|Is the kitchen clean? >
- Put dishes away, unless setting a formal display for decoration
- Clear off countertops and make them shine
- Keep appliances clean and in working order
|Do the living areas feel spacious? What do you see that might distract the buyers from imagining their own belongings in the home?
- Remove clutter including collectibles, toys, and excessive photographs
- Turn off televisions
- Keep pets out of the way and clean pet areas
- Vacuum often to keep floors clean
- Apply a fresh coat of neutral paint throughout
- Place fresh flowers in the main rooms
- Play soft music on the radio or stereo
|Are the bathrooms clean and fresh?
- Keep plumbing in working order
- Clean water spots from mirrors, glass, and chrome
- Clean counters and porcelain until they shine
- Hang clean towels neatly in each bathroom
- Maintain sealants in good condition including windows, tubs, showers, and sinks
|Imagine you are an overnight guest in your home. Do you feel welcome and relaxed in each of the bedrooms?
- Make the beds daily
- Put clothes away
- Straighten closets and clear out clutter
- Secure jewelry, cash, prescription medication, and other valuables
- Open drapes and turn on lights for a brighter fee
- Buyers tend to feel more comfortable if owners aren’t present when their home is being shown.
- Arrange to be out of the house when viewings are scheduled.
- If potential buyers request to see your property unaccompanied by a sales professional, refer them to your real estate professional for an appointment.
- Leave a number where you can be reached with your sales professional if you are leaving town, even for a weekend.
Pricing Your Home
Fair Market Value
The basic laws of supply and demand influence what a buyer is willing to pay for property. It also influences the amount financial institutions are willing to lend.Fair market value is defined as the likely price a ready, willing, and able buyer will pay for a property when:
- The property is offered for sale on the open market.
- The property is marketed for a reasonable period of time.
- The buyer has a complete understanding and knowledge of the property.
- Neither the buyer nor seller is under abnormal pressure.
Determining Property Value
This approach is based on the premise that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.Competitive Listing and Sale Prices
To form an opinion of value, a Prudential Real Estate Professional analyzes current listings and sale prices of similar homes in your area. Our sales professionals consider properties that recently sold, are currently for sale, or were offered for sale without success. Although no property is identical to yours, those with a high degree of similarity are noted in this report.
The chance of receiving an acceptable offer and completing a sale diminishes significantly when your asking price is higher than current market value. Here are factors that determine price range:
- Your property—its strongest selling points
- Expired listings—homes offered for sale that did not sell
- Competition—the asking prices of other homes for sale in your area
|Factors That Can Affect a Property’s Value
||Factors That Do Not Affect a Property’s Value
- Time of year
- Property and neighborhood
- Style, condition, age, and décor
- How quickly the seller needs to sell
- Improvements and upgrades the owners made to the property
- What friends, neighbors, or relatives say a property is worth
- What the owners paid when they built or bought the property
- Cash proceeds the owners want or need from the transaction
A Prudential Real Estate Professional can prepare a detailed description of your property and estimate the selling price range in today’s market. This is known as the comparative or competitive market value of property.
Staying Current with Market Value
Once your property is listed, your Prudential Real Estate Professional continually monitors the offering price and new information about the market. Their observations may include:
Interest rates and availability of financing
Listing activity and length of time on the market
Buyer reaction and seller motivation
Current market conditions and competing properties
Condition of the propertyPVRMSM is an alternative approach to home pricing. By marketing a home within a price range, PVRMSM addresses the concern of over- or underpricing your home. This approach attracts a wider pool of buyers and invites more offers than a fixed price. At the same time, it allows the seller to control the sales price.
Prudential Value Range MarketingSM (PVRMSM)
PVRMSM mirrors the natural buying and selling process and can reduce the number of days a home is on the market.