The Price Is Right…..Or Is It?

shutterstock_147921869When I was a kid I used to love to watch The Price Is Right.  I would watch with anticipation as each player was instructed to “Come On Down” to their spot below the stage and to do their best to guess the price of some electronic, piece of furniture or something fun like a trampoline to get up on that stage and try to win really great things like trips and cars.  And to earn that spot on the stage you had to come the closest to the actual price of the item, without going over.  As long as you were at or below the actual price, you had a chance to win.  Go over the actual price and you would have no chance to win.  When you think about selling real estate, its much like this game. Overprice your property and you are automatically a loser, because few, if any buyers will be interested.  Also like the game show, if you price the property too low, you will most likely have a quick sale (still in the game), but how much money did you fail to put in your pocket? So that’s not a real win. How can you be sure to achieve the best price for your property? Just like the best part of the game show, a little healthy competition of course.

Recently we had a client who wanted to sell her home.  She had recently inherited a home and had decided it was time to put her previous home on the market.  She contacted our team and we met with her to discuss her goals and what she would like to achieve for her property.  There were some unique things about the home with the first being location.  It offered close proximity to the downtown area and was in a highly sought after school district.  It was on a supersized lot and the property perimeter was flourishing with shrubs and hedges, giving it that very private feel.  But it was also an older home, and needed some updating. She said she didn’t want to take the chance of under-pricing the property and wanted to use the online bidding method to allow competition to determine the highest price achievable.

After a full-blown marketing campaign that lasted approximately 30 days, our team had generated 14 potential buyers for the home.  The online bidding opened for 48 hours and the first bid was placed within the first 10 minutes.  Bidding was consistent throughout the 48 hours with the high bidder keeping two other bidders at bay to win the property.  And what were the results? The high bid exceeded both the seller’s and our expectations.  It achieved 66% more than the offer she had initially received from a friend of the family before listing it and it achieved 13% more than tax value.  We had a very happy client and a happy buyer.

So don’t spend time fretting about determining the right price for your property.  Let one of our team members “Come On Down” and meet with you to discuss how online bidding for your property can achieve these same results.  And when you have successfully sold your property for top dollar, you will be sure The Price is Right!

Marketing Real Estate – Trading The Sign at The Road for The Click of the Mouse

shutterstock_4313011Twenty plus years ago when we started in the real estate auction world, most people, including buyers and sellers, thought this is what made up the marketing campaign for an auction property – pictures, signs, maybe a few brochures, come back in 30 days, put up a tent, sell the property and go home. Fast forward twenty years and the thinking is still the same, except instead of putting up a tent, we put it on the Internet.

So what does a marketing campaign for a real estate auction look like?  If you were to sell your property using the services of Hagen Realty Group, what could you expect? A lot more than a sign at the road.  In today’s world people expect information at their fingertips, at the click of a mouse, because it is there.  Want to know how many miles it is to the moon?  Google it.  Want to know how much Donald Trump is worth?  Google it.  Want to expose real estate to the broadest possible market? Make sure it can be found on Google!

Our staff works diligently to insure that the real estate we are marketing is exposed in multiple ways, on multiple sites and in multiple forms so that when potential buyers are searching, we can be sure our client’s property can be found.  Our marketing program would be considered a high impact and short term campaign that puts many facets of advertising a property together all at one time. We use multiple websites to list the property, typically over 20 different sites, as well as preparing a detailed marketing package that is available on our website providing the details of the property and the terms for bidding.  We utilize social media outlets including Facebook and Twitter, which we have found to be very useful.  So many people turn to social media to find out the news and events in their area, so why not property for sale too?  We also create a video of the property, providing a virtual tour that is available 24/7 for potential buyers.  We post this on our website and YouTube.  It’s like having hundreds and even thousands of people attend an open house for your property and you never have to open the door!

So when we are marketing your property, we are not only highlighting your real estate, but we are creating a buzz in the marketplace about the event of selling your property.  We make it fun, exciting and maybe even a little mysterious. People are intrigued by the unknown, and by advertising the property at an online bidding event with no published asking price, potential buyers become more focused on your property than the others on the market.  And voila, we have been successful in our marketing efforts by creating a demand for your property by more than one buyer.

And isn’t that the goal of selling property?  To obtain the maximum dollar possible.  How can you achieve the maximum dollar if you limit the property to a sign and little else? According to Lewis Carroll “If you don’t know where you are going, any road will get you there.” Hagen Realty Group will make sure we know where you are going and will use more than a sign at the road to get you there!

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