News and Events
April 4, 2007
How to Price Your Home
I want to list my price higher than my agent recommends. Why shouldn’t I list high and them come down?
You’ve
decided to sell your home and have a fairly good idea what it is worth. Being a
sensible seller you schedule appointments with three listing agents. Each agent comes back with a market analysis.
The paper may vary but they all present facts on what the listing price should
be.
Two
of the agents come back with prices lower than you expect. They have data to
back up the price but you may remain convinced your home is worth more.
The
third agent comes in with a value similar to what you were expecting maybe even
higher. Anyone would be excited at the prospect of making more money but is it
realistic or is the agent trying to “buy” a listing? Although it is temping to
go with the highest price you must stop and look at the bigger picture.
In
the real estate world there is always going to be an agent willing to tell you
exactly what you want to hear. He or she may suggest a higher price just to
secure the listing. The true intention may be to eventually talk you into a
lower price or just try to use your listing to bring in a few buyers. If they
think your home is overpriced there are certainly more out there to show!
Look
at the sales in your area. Also look at the listings that are currently listed.
In a tight market you want to be one of the most desirable listed not only in
price but also condition. Many sellers pressure an agent to list higher
thinking it is easy to come down. It is not easy to come down in price quickly
enough to make an impact.
Talk
to friends or family that have sold and see if they will recommend a name to
you. Do some research on your own. Mainly set aside the personal aspect of your
home and truly focus on the numbers and not the emotion!
