Hitting the right price out of the gate is important! Price too high and people will ignore the property. Price too low and they may never get to where you need them to get.

The right price gets people excited by the possibilities of the property. A "right-priced" property gets showings, offers and moves along in the process in a timely manner.

Price too high and the property will linger on the market and people will start to wonder what's wrong with the property. We've seen gorgeous properties take months to sell in a hot market, simply because they hit the market too high. 

But picking the opening price is just the beginning. 

Once the property hits the market, the attention and activity must be monitored very closely. No showings? The price is too high. Too many showings? A tweak up might be in order.

And showings are just part of the attention equation. Traffic to the dedicated property website should be monitored. Is the social media ad getting traction? Are people watching and responding to the related videos? All of this matters in the name of getting the most bodies to the table to fight for your property.

And all of this pricing strategy is set against the backdrop of any special needs you might have as a seller. Need to lease back the property for a month or so? That might impact the expected interest in the property. Need to sell extra fast or coordinate the purchase of your next home? These can also impact interest levels.

Based on our detailed knowledge of sales prices and trends in Silicon Beach (which vary greatly even across the constituent communities), we will come up with a suggested launch price, but we will also watch the analytics and metrics like hawks after launch and will talk to you about price tweaks as needed.

Pro Tip: Talk to your agent about the commission you're paying and how it will get split with the agent representing the buyer(s). This split is spelled out in the listing agreement. Make sure you read and understand the implications of what the listing agent put in the agreement. The goal is to get lots of buyers excited about your property and bidding on it. Some agents will not advocate for your property if the listing agent is offering a lower than customary commission split to the buyer agent.

Bonus Pro Tip: Don't let your listing agent represent the buyer! It is oximoronic to think that on agent can serve two PRINCIPALS adequately at the same time in a negotiation. Somebody will lose. Maybe it will be the buyer, but why do you want to see your name on the lawsuit when the buyer figures out he/she/they weren't adequately represented? No, we didn't think so.