In any market, whether it’s houses, stocks on Wall Street, or cars on Craigslist, there are external market dynamics and internal ones. The externals are what everyone looks at. What’s the Median House Price in Meridian, Idaho? What’s the average Days on Market (DOM)? How many months of inventory are there? How much above or below asking price are houses actually selling for?
These are great statistics to know. But Kevin has learned to go deeper in order to give his clients an edge. When preparing a Comparative Market Analysis, he not only studies Sold “comps” but Active ones, so he can craft a listing that is positioned with every advantage to get the best price.
And his work isn’t done when he lists a home. He continues to watch the internals of the market for that house, monitoring other houses that either go Pending, or go Active in the MLS during that time. This helps his clients tremendously during the listing period. If a home doesn’t have much competition on the lower side (which is often the case in a thin seller’s market like we have right now), there is no need to drop the price unnecessarily during negotiations. That’s just giving away the client’s money for no good reason.
Kevin has learned how to maintain goodwill with a buyer while holding firm when the market internals support a higher price. His professional approach has saved deals and put more money in his clients’ pockets.