In the first quarter of 2019 we have over $21M sold or under contract in Northern Virginia in an average of 23 days. Industry average is 122 days. $13.5M of those homes are located in Vienna and were sold or under contract in an average of 13 days for an average sales price of $1.1M. Industry average in Vienna is 117 days.
The credit for our success is our Pricing Documents which clarifies a homes value to the sellers, the buyers, and their agents, during the contract and inspection process. Here are six transactions that saved/made our sellers over $287k in March*:
- A buyer offered $1.3M on our $1.35M listing. We sent over the pricing document proving our value and they bumped their offer to full asking price of $1.35M. $50k win for our seller.
- After being on the market for months with another Realtor, we listed a home and received a contract of $1.425. After reviewing our pricing document, the buyer raised their offer $50k and the seller accepted it. $50k win for our seller
- A home inspection release wanted the seller to pay $50k in repairs. We sent our pricing document and the buyers settled for $2500. $47,500 savings for our sellers.
- After being on the market for 6 months with another Realtor, we listed a home in Vienna under $1.25M. We received $1.28 over the first weekend. $30k additional profit for our sellers.
- Seller made CST suggested cosmetic repairs of $10k to a 2002 home and they added $62,500 to sellers sale price. $52,500 profit to our sellers.
- Seller made CST recommended cosmetic repairs of $8,000 and they returned seller $65,000 in higher sales price. $57,000 profit to our sellers.
Pricing and the ability to prove value is critical to a successful sale.
*This does not include the savings of charging sellers 4.5% total commission versus other agents charging 6%.