Case Study: Price Right to Sell Before Your Competition
Posted April 25th, 2017 by Clarissa Gregg

We assisted a family selling their condo in the suburbs north of Chicago. While helping them correctly price the property before listing, we considered a very similar, though not quite as nice property that sold recently for $312,000. However, there was another condo currently on the market priced at $329,000, and it would be our competition. Like the sold property, it was very nice, but lacked some of the upgrades our homeowner’s property offered. This competing property had already been on the market for over 4 months without selling. That meant to us that it was not priced correctly to draw an offer. Our family followed our advice to price below the other condo in the complex and moved ahead to list their property for $322,500 a couple of weeks thereafter. The condo was under contract within 1 day of coming on the market!! The property sold just below asking price, while the other unit for sale in their complex is still unsold after more than six months.
Working with Moving Station means more than putting a seller in touch with great agents. It is a collaborative effort between the seller, their selected Moving Station real estate agent, and their Real Estate Counselor to achieve a successful sale. In this family’s case, knowing the competing condo was overpriced was crucial to properly positioning our homeowner’s unit to sell before the other home, while still preserving as much value as possible. Our homeowner is already relieved of the burden of the cost of the condo while her neighbor is still carrying those costs.

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