Special offer

How to Price your Home & Who sets the value of your HOME?

By
Real Estate Agent with First Weber Hedeman Group


There is alot of talk about who or how the price is determined for listing a home
The truth is it doesn't really matter how much money you think your home is worth. Nor does it matter what I think or ten other agents. The person whose opinion matters is the buyer who makes an offer. Pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements and taking stock of present inventory, all in an attempt to come up with a range of value, an educated opinion. This method is the same way an appraiser evaluates a home. And no two appraisals are ever exactly the same; however, they are generally close to each other. In other words, there is no hard and fast rule to price any home. It's an honest, educated evaluation and the market will dictate the price.

From Scott Larson of Towne Square Realty in Monroe, Wisconsin

“Your Realtor of the Region”

E- Mail scott@greencountyhomeguide.com

On the web at greencountyhomeguide.com

I think you will be surprised how affordable the Dairyland is,

so come to my land of cows and plows and visit for a day, but stay for a lifetime

608-2124-9844 Direct

 

Posted by

 

 

Barbara Michaluk
Weichert Realtors | Phone Direct 240-506-2434 | 301-681-0550 office - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

Scott, I agree with you! Sellers sometimes think they have the special home that a buyer will fall in love with and pay whatever they ask.  You and I know it does not usually work that way. 

Oct 15, 2009 02:46 AM
Cherry Wings Realty
Cherry Wings Realty - Traverse City, MI
Your Traverse City Michigan Realtor

Scott:

Another important point that I like to get across to my sellers is that we stay ahead of the decline in market price and not behind it.  We must stay in front of that curve.

Christine

Oct 15, 2009 02:46 AM
Robin Scott
Robin Scott, REALTOR® - Austin, TX
Broker, REALTOR® - Austin Texas

So true. I always say, the Realtor doesn't set the value, the market sets the value.

Oct 15, 2009 02:47 AM
Dave Sulvetta
Dave Sulvetta, eXp Connection, Gloucester County Realtor - Gloucester Twp, NJ
Realtor

Yup-

The Buyer sets the price! First thing I learned about the business

Oct 15, 2009 02:48 AM
Matthew Naumann
Exit Realty Charleston Group - Goose Creek, SC
Goose Creek, SC Real Estate Agent

Scott,

Great Post.  It is definitely the Buyer, who sets the price.

Thanks for sharing,

Matt Naumann

Oct 15, 2009 05:11 AM