What’s changed in the last 30 years for the real estate industry? From cell phones to new pricing strategies, the current real estate industry is much different than it was when I first got licensed.
Buying a home? Search all Colorado homes for sale
What’s changed in the real estate industry the past 30 years? A lot!
Cell phones have really changed over the last 30 years. I was given a phone when I first got my real estate license back in 1986, and the case for this phone is the size of most laptops today!
Back then, people would get into my car and I would tell them which homes we were going to look at. These days, people get into my car with a list of homes they want to see! So, what’s changed?
The internet has had a huge impact on the real estate industry.
How you price your property has also changed. Three decades ago, a common pricing strategy was to list the home for $199,000. That is not how we price homes today. The best way to capture more attention for your listing is to price it on a cusp. Instead of using the old pricing strategy, we would recommend listing your home at $200,000.
Why? If your home is priced at $200,000, buyers who are looking at homes priced between $150,000 and $200,000 will see your home, as will buyers who are looking at homes priced between $200,000 and $250,000. By pricing your home on the cusp of two price ranges, you will reach more buyers. If your home was priced at $199,000, your property would only show up in one search, and you would have one of the highest priced homes on that search. Pricing your home on the cusp doubles your exposure.
Real estate has certainly changed in the last 30 years, and we have a couple of other great new strategies that can help you sell your home. If you have any questions about our current real estate market, give us a call or send us an email. My team and I would be happy to help you!
