Pricing Your Home to Sell...

Since the real estate market seems to be getting slow on many fronts, now more than ever it is important price a property right.  Sellers need to have a clear picture of the market and what the competition is selling at (or not!).  Graphic illustrations of the market on a Competitive Price Line Sheet, is extremely helpful.

How can a listing agent go about graphically showing the seller where the list price should be?  We use a very simple tool to do this.  See Illustration to the left...

As you are compiling your Comparative Market Analysis (CMA) take the data and transfer it onto this graph.  Be sure to fill in the prices in the boxes, then make a hash mark for every home at its price intersection.  Typically I use more comps to do this than I would on a normal CMA.  Using as many as possible gives a clearer picture.

When discussing this illustration with the homeowner, it becomes very clear where the homeowner should be pricing to sell, if they are in fact motivated to sell quickly.  I always point out "the homes that didn't sell." This is where they DON'T want to end up.

Using this tool to determine a seller's ODDS OF SELLING is a graphic and strong illustration that is hard to argue with.

<I have this tool scanned, so if anyone would like a full size, print read copy, leave me a message here & I'll send you one. You can white out our logo, or come join us...the door is always open! >

NOTE: The form came from Larry Kendals Ninja Selling Class, The Group of Ft. Collins, Colorado, Thank you very much.

Last blog I talked about How to Figure Absorption Rate, in case you missed it...take a look!