Pricing Your San Antonio Texas Home for Sale-Part Science and Part Art
I read a post today from my very good friend, Jerry Newman called Does the Price Always Reflect the Condition and it got me to thinking about how a listing 
agent should be advising you on the pricing of your San Antonio Texas home for sale when you put it on the market to get sold.
agent should be advising you on the pricing of your San Antonio Texas home for sale when you put it on the market to get sold. The price is one of the most important aspects of getting your home sold. Period. It's not the only thing that will sell your home, but it will be the driving factor to getting showings and ultimately getting that offer.
I wrote a post a long time ago called What is this Comparative Market Analysis Thingy and Why is Everyone Trying to Give Me a Free One? In this post, I spell out exactly what, as a listing agent, I use to come up with a pricing strategy. This report tells you many things about the market in your specific area in San Antonio Texas. By the way, I use this handy report for both my sellers and my buyers. For my sellers, obviously I use it to price their home for the market, for my buyers, once they pick a home that's how we come up with an offer strategy.
With the comparative market analysis, we use the recently Sold homes that are roughly the same size and condition of your home to gauge the price range that your particular San Antonio Texas home for sale should be priced at to give you the best chance of getting a ton of showings and ultimately selling your home. What we typically do not use, however, are the Active Listings to price your home....well...not technically.
Any good listing agent is going to look at the Active listings in your area to determine what your competition is. Typically, I like to preview a few of those comparables before I sit down with you and present my marketing strategy. If, there is a home that is similar to yours on the market, you want to do your best to outshine that home either in showing ability, pricing or both. You want to win that competition, so when pricing your home for sale, you need to be aware of what exactly your competition is.
Since pricing a San Antonio Texas home for sale is part science and part art, using the Active Listings to judge where in the price range your home should fall is going to ultimately help you out. Again, remember that we use the actual Sold data of comparable homes to yours to come up with a price range. Why? Because it doesn't matter what homes are listed for, only what they sold for and this is what the appraiser will use to get the market value of your home once we get an offer.
If another home in your neighborhood is comparable to yours, and is priced for the market, then we decide if your home is better appointed, (going to outshine) the other home or if the other home is going to outshine you. IF, the other home outshines your home, (more upgrades, bigger lot etc), then we typically want to price a bit lower so we win the price war. IF your home outshines the other in condition and upgrades, we may want to price a little higher, again, using the sold data price range. The best combination I have seemed to find is when we outshine the comparable, we still price a little bit lower or the same to get you that offer first.
It's all a matter of finding that terrific price point to get as many qualified buyers through your front door. The issue is, is that if they are coming to look at your home, they are most likely going to look at the other home too. If your home is better in pricing, all things being equal, you will get that offer first. I know you like your neighbor, but this is about getting your San Antonio Texas area home sold! Once we get that, perhaps we can sneak over and let them know your pricing strategy secret so they can get their home sold too!
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