What I Learned From The Stock Market When I Went To Sell My House
"Joe, I want to sell my house, what do I need to do?"
Home seller questions are common for me these days, and they are also favored (after all, that what we do here at Joe Manausa Real Estate, we sell houses :))
I often use analogy to explain things to people who are getting ready to sell a home, because it really is a process that is fairly easy to grasp and it does not take months to sell a home. So if you are getting ready to ask somebody to "sell my house," read on!
Stock Market Showed Me How To Sell My House
Of all the analogies that I use to explain how we sell a home these days, I like the simple comparison to selling a share of stock on any of the large exchanges in the world.
The key to selling a share of stock is understanding supply and demand. We look at the "ask" and we look at the "bid," but your local real estate market liquidity is going to tell us the likelihood for variances between the two parties.
Here's what I mean. If you want to buy a share of HP, and it is trading over 17 million shares per day, that is ample liquidity to give you a feel for what you will have to spend. Similarly, if you are looking to sell a share of HP, you will have a great understanding of what you should expect to receive.
When we look at HP shares from yesterday's market, we see it fluctuated from $21.03 to $21.37 per share. Additionally, 17,685,000 shares traded hands, so we have a lot of evidence that a share of HP is worth between $21.03 and $21.37 per share. So let me ask a stupid question ...
What if I wanted to sell my share of HP for $30, would me putting it on the market right now at $30 get it sold? How about $28? or $25?
Exactly, if you price yourself above the market when there is ample liquidity, buyers will ignore you.
When I wanted to sell my house, I was able to use this lesson from the stock market to price it correctly. And if you ask me to "sell my house," I will use this same process to show you how we will sell your home in 4 to 14 days.
Sell My House In 4 To 14 Days
The key to the analogy of comparing selling a house and selling stock is market liquidity. If you are selling a high end home in Tallahassee, you might not have enough liquidity to price your home with the same confidence level as if you were selling a home in the middle price ranges (where thousands of transactions will occur this year).
So the greater the liquidity in the market, the tighter and greater confidence I will have for a quick, top dollar sales when you plead "sell my house!"
We have been working all the correct marketing channels to create a real estate exchange of ready homebuyers so that when we promote a new property, priced correctly, we are able to effect a quick sale. If you are thinking "let's get Joe to sell my house," then simply drop me a note and we can schedule a time to get you started.
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