The Sheridan Area Blog

At the conclusion of my previous post on “How to Avoid Price Reductions in the Sheridan Real Estate Market” I committed to providing 5 tips to effectively marketing your Sheridan ranch, land parcel or home. If implemented, these 5 real estate marketing strategies will enhance your properties visibility so you can experience a quicker, more profitable Sheridan real estate transaction.

Buyer’s are More Web-savvy. Are You a Web-savvy Seller?

Because most real estate experts would agree we are in a buyer’s market, Sheridan home sellers need smarter marketing strategies to insure their home sells for the maximum fair market value and the sooner the better. Just remember, Sheridan home buyers are a web-savvy bunch, so creating a marketing campaign that attracts these Internet Empowered Consumers is a must.

5 Success-oriented Sheridan Real Estate Marketing Tips

Based on recent market data, here are the 5 marketing tips you need to insure your Sheridan, Big Horn, Ranchester, Dayton, or Story, WY property is given the maximum exposure your property deserves.

• The smartest strategy you should start with is accurately pricing your Sheridan real estate. This means setting the “right” price the moment your ranch, home or land parcel is listed for sale. As you read in my previous post, price reductions send negative messages to your potential buyers. It screams that your property is overpriced and possibly undesirable. If market conditions dictate and your agent indicates a price reduction is necessary NEVER launch a price reduction marketing campaign. If you do, you send signals to buyers that your Sheridan,WY property is all but unmarketable.

• Believe it or not, what day you have your Sheridan property “debut”on the Sheridan County Multiple Listings Service (MLS) has an impact how many”eyeballs” see your home. Plus it can determine how quickly your Sheridan County property will sell. The very best day to have your Sheridan single-family home, ranch or land “hit” the MLS is a Friday. The worst days are Mondays and Thursdays.

• Because today’s Sheridan home buyer is smarter and using the Internet in greater numbers, I recommend you solicit the services of a local Sheridan real estate firm that is equally web-savvy using as many Internet portals or websites to showcase your property. One of the more popular websites buyers are flocking to is Craigslist. This website is one of many websites your Sheridan listing agent should be using to feature your home, ranch or land parcel.

• When setting the “right price” for your Sheridan, WY real estate, make sure the price falls within the correct pricing “categories”. Internet-based buyers typically create property searches in segments or increments of $25K to $50K. If your recommended Sheridan property value is $351,000 based on a comparative market analysis (CMA), it is recommend you list your home at $350,000 so your home falls in the $325,000 to $350,000 price point.

• While this next marketing strategy is not often used in the Sheridan real estate market, you may find it occurring more often should our market conditions deteriorate. Before you list your Sheridan real estate for sale, have your agent search your “hyper-local” neighborhood or community to determine if there are “foreclosure properties” on the market. If your agent identifies such properties, it is recommended you hold off listing your property until that foreclosure home is off the market. Foreclosure properties are typically difficult to compete against and set a bad precedent for property values in your area.

What has been Your Experience

Tell us your story about marketing your property in the Sheridan real estate market.  How did you overcome your obstacles to successfully market your Sheridan property? Are you thinking about listing your ranch or single-family home for sale? If so, ask us any questions you might have about marketing your Sheridan land parcel, ranch or single-family home.

Until my next post,

Bruce Garber
Century 21 BHJ Reality, INC

Your Sheridan Real Estate Resource

All But Eliminate the Need For Price Reductions

Because some Sheridan home & property sellers refuse to face reality and rationally price their homes & property, to often Sheridan real estate agents list homes & property for sale at inflated prices. Know this, the first 3 to 4 weeks a home is on the market are so critical. An inflated price removes the excitement of the new listing which results in little or no traffic and more important – no offers.

The Typical Price Reduction Tactic

Faced with the reality and knowledge the property is over-priced, the seller agrees to a “price reduction” and the agent places a rider sign that announces to the world – “we realize the price was irrational” and it has been reduced! Think about the mixed messages that sends to the Sheridan home buying community (and it’s agents). It could be interpreted that the home is undesirable or maybe the home is in disrepair. Now you have more obstacles to marketing the home which ultimately prolongs the days the property is on the market. This creates unnecessary stress for the seller that possibly could have been avoided.

In the end the important thing, is to have a knowledgeable agent that maximizes the sellers opportunity  while not subjecting them to the price reduction process unless absolutely necessary.

Your Comments?

What has been your experience as a past seller who had to go through a price reduction and what lessons did you learn?

5 Tips to Effectively Marketing Your Sheridan Home

In my next post I’ll be sharing 5 exclusive secrets to successfully marketing your Sheridan, WY home. These tips will help your Sheridan home sell quicker and for maximum fair market value.

Until my next post,

Bruce Garber
Century 21 BHJ Reality, INC

Your Sheridan Real Estate Resource

Fact #1 – The Sheridan, WY Real Estate Market Has Changed

Not long ago Sheridan, Big Horn, Story and Ranchester home sellers could offer their homes for sale and ask the buyer to make any minor repairs after the sale. In that market buyers bought properties and agreed to pay for the repairs. With the competitive nature of the current Sheridan real estate market, those days are gone. Not that I agree with the negative message the national news media continues to “beat” that the “real estate sky is falling“, I simply say that the Sheridan real estate market has actually “normalized”.

Fact #2 – It’s Time For Rational Real Estate Pricing in Sheridan

This means it’s time for our sellers to face the reality that homes must be in move-in condition and that sellers must accurately price their homes before they hit the market. It is more important now than ever before. Too often, sellers have a figure in mind what they think their home is worth before the for sale sign is ever placed in the front yard.

Here is a reality check:

1. What you may have previously paid for your Sheridan home does not affect its value in today’s market.

2. The amount of cash you need from the sale of your Sheridan home does not have any affect how much your home is worth.

3. What I say your Sheridan property is worth does not determine its ultimate value.

4. What another Sheridan County real estate agent or agency says your property is worth does not affect its value.

5. What a Sheridan County tax assessor says your Sheridan or Big Horn home is worth does not affect its value.

6. Your emotional attachment to your Sheridan home with all its wonderful memories does not impact the value of your home.

Fact #3 – The Buyer Always Determines the Value of Your Sheridan Property!

Further more, the value of your Sheridan home is determined by what a buyer is willing to pay in today’s Sheridan real estate market based on comparing your home to other recently sold properties with similar features and comparable condition. That is determined by hard data from recently sold properties in the Sheridan County area provided by a market analysis (CMA). No emotion, all data.

So How About You – As a Perspective Sheridan Home Buyer or Seller….

What’s your take on our current real estate market? Are Sheridan home sellers being rational with their home values and are buyers making reasonable offers? I look forward to your comments.

In my next post I will discuss “How to Avoid Price Reductions in the Sheridan Real Estate Market“.

Until my next post,

Bruce Garber

Your Sheridan Real Estate Resource
CENTURY  21 BHJ Realty, Inc.