Putting & Pricing

If you have played golf, even if just a little, you have experienced the challenge of getting the ball in the hole. What does putting have to do with pricing? Read on to avoid coming up short; i.e., not selling or selling after months on the market and/or leaving money on the closing table.

So much of golf is about hitting long drives, and the PGA Tour fosters this attention by including reachable Par 4 holes. But managing to make a 20′ putt, even a 3 footer, can be very humbling. Imagine taking 2 or 3 shots once on the green after covering 350 yards in a single swing of the driver.

It is well documented that putting is the key to a good golf score as it can account for about 40% of total strokes taken during a round of golf.

Reading the green is key to good putting. And reading the green requires picking a line, but you can’t pick a line without also considering the speed. The two are intertwined.

Homeowners have a similar challenge when preparing to sell their house because pricing is every bit as important in this process as putting is to golf.

It is impossible to peg the right price for a property without taking into account its condition, because price is intertwined with condition. Overpricing will, with almost certainty, lead to more time on market and price reductions to prompt acceptable offers. The following charts illustrate this dynamic.

Stats 12-31-17 Scatter No Price Change SP OLP

Stats 12-31-17 Scatter Price Change SP OLP

Contact Miller Group Realty if you are thinking about making a move and looking for the right agent to represent your interests. In the interim, visit MillerGroupRealty.com for an online introduction and insights into how to Hire The Right Agent.

 

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