Tune Your NOVA Home Marketing Program | Virginia Residential and Small Office Real Estate | Jeff Shearer

Jeff Shearer

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"We were fortunate enough to have the opportunity to work with Jeff. This was our first time buying a home and we do not know what we would have done without Jeff’s guidance, experience and support during this process. By the end of the process we viewed over 30 homes. Jeff was always upbeat and enthusiastic at each viewing! He walked every home with us, made sure to inspect every inch of the home for possible signs of issues; as well as pointing out positive aspects of each home."


Tune Your Marketing Program

Thank you for giving me an opportunity to sell your home. If you haven't already, please read the first three in my series for home sellers,

This article talks about how we, Tune Your Marketing Program.Yes, tuning implies we are not get the responses we wanted. While there maybe many causes, we want to adjust our program to changed conditions in order to sell your home quickly for the highest price.

Remember, our goal is to generate multiple offers to put you into the best negotiating position possible regarding contract terms, inspection releases, and the buyers' lender appraisal reputation.

Every Tuesday after the listing goes active, I want to have a status meeting with you. The agenda for the meeting is constant, the out come is not. Our agenda:

  • Offers In Hand
  • Visit Counts
  • Newly Sold Comparables
  • Changes is Competitors
  • Withdrawals and Expireds
  • Action Items

When we are not meeting our success monitors, we are headed for a repricing. In general, I like to wait 30 days before we consider repricing. However, we may want to reprice after 2 weeks if the market has changed. Here are my repricing thresholds:

  • $12k to $15k increments for homes between $400k and $750k.
  • $25k to $30k increments for homes between $750k and $900k.
  • $50k to $85k increments for homes between $900k and $1.5M.
  • $100k or higher increments for homes over $1.5M.

Please do not take this as an excuse to price high and reprice later. That strategy does not work in this market if you want to sell in the year your home is listed.

I decided to become a Pricing Strategy Advisor® to better understand when to use the different strategies in various market scenarios. This class also provide me ways to better serve buyers and sellers and my ability to work with Appraisers.

Yes, there are pricing strategies that are more appropriate in one market over another market. Today we have gotten used to a fast market where having a home on the market over 30 days in the kiss of death.

There are also different strategies to use when homes are not selling as expected. In general, that means a change in pricing strategy. On this page I have described one suggestion for tuning our marketing strategy when visit count is too low to get an adequate number of offers. There are other options as well.