THE LOGICAL PRICE – This is where recent local sales of similar properties provides a realistic or ‘Logical’ guide to the estimated sale price.
THE EMOTIONAL PRICE – This where the Selling Price can EXCEED the Logical Price because Buyers get Emotionally involved. *Think of an Auction or Multiple Offer Bidding War*
IF YOU ARE SELLING THIS IS HOW TO TAKE ADVANTAGE OF THE 2 REAL ESTATE PRICES.
(a) DATABASE BUYERS FIRST – Now we know there are 2 price levels for your property, let’s attract our emotional buyers first and see what happens. How about we get listed now and we promote your property to our database of qualified buyers straight away. Who knows we may have the Emotional Buyer ready to buy your property right now.
(b) QUICKLY FOLLOWED BY INTERNET EXPOSURE – Once the Database has been notified it is imperative to expose your property to the entire market as soon as possible to attract the new buyers who have just entered the market. This can also lead to an emotionally charged buyer acting quickly to beat other buyers who have been looking for sometime. By taking the initiative and doing the necessary steps to attract an Emotional Buyer you give yourself the best chance of exceeding the more realistic Logical Price for your home.
REMEMBER THE EMOTIONAL PRICE IS THE PREMIUM PRICE BONUS ABOVE THE LOGICAL PRICE.