During my presentations for Listings I am always amazed at homeowners and the value they perceive their property to be worth.  Then when you question how they arrived at the number it all becomes clear. 

I find that most look on the MLS for a while and see homes that sound like theirs, although in a completely different neighborhood and use that price as a sales value....whether it sold or not!  Others go by what neighbors have told them they should be able to get.  Yet others listen to a neighbor that just sold their home and the supposed price "they say" they received. Others listen to co-workers and relatives that do not live in the area and have not idea of the market but are relating what they think the seller should get for a price from their eyes.

I do not use the words CMA when establishing a sell price.  I use "price right analysis" to sell.  If you want to be comparable and stay on the market like the other homes then we should use a "comparative market analysis" and price like everybody else.  Change your thinking to help your clients sell.  "Price Right" and sell!  Sell faster and for more money.  We are in a selling profession, the ultimate price decision is with our clients but we are the professionals that guide them to the right decision.  We are also the ones who take the responsibility of not guiding them correctly and letting their property sit for months on the market missing opportunity after opportunity to move to the home they really want.  Right now they may sell lower but they will buy the next house for lower as well. 

It is OK to wonder how they arrived at their sell price.  It is OK to be amazed at who they listened to confirm their price feelings.  It is not OK to be "Lost" and unable to justify your price beliefs.  They are counting on you, they are hiring you....they even want to pay you. 

The neighbor that told them what they sold for, usually inflates the price a few thousand...so when your say WOW, the reported legal record shows it was this $xxxxxx.  They always look at each other and say we didn't know.  Of course they didn't but you do!  You should know every sold in the last 6 months. When they tell you the homes they used as comparables, ask the neighborhood....you may be surprised.  Then look and see if it has sold or note the DOM.  Most of the top pros already know this stuff that's why they are where they are on top.  Use the right words, the right pricing information...get more listings and have more of them sell, faster and for higher dollars.

Do not think all home owners do not know, some are very good and do know, they are just testing to see if you know too!  So don't get caught...or the next agent will get the listing.

I hope this helps you to a faster closing.

Respectfully,

Gary White