Pricing Your Home

It is said quite often within the industry that 90% of marketing your home effectively is about pricing it accurately.  While 90% might be a little on the high side, it is undeniable that the most important factor in selling your home is setting the price properly.


It's not rocket science.  Your home is worth what other similar homes in similar areas and in similar conditon have sold for in the recent past.  That's what makes a market.  The market is usually very clear in its reaction to a listing - if it's priced right and presented well then it will sell within a reasonable timeframe.  


Testing the market may be a viable approach in time of high market activity or rising prices, but is a sure way to have a listing go stagnant in these relatively quiet times.


The fact is that most sellers are emotionally attached to their homes and have a hard time seeing objectively what the value of their homes are to the marketplace, not to themselves, but to the marketplace.  You must be willing to look at the comparable data with your agent and be realistic in your expectations of what it will sell for.


Many sellers think that buyers will just write an offer if they don't agree with the price. Not only will they not write an offer, they won't even go look at it.  


If you've been listed for a month and have had few showings, or have been listed for a month and have had many showings but no offers, then it's probably the price.  Think about it.


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