Selling a home in Seattle has become a little more treacherous then it was a few years ago.  This isn't a surprise to anyone.  You may have also heard the truism that price is king.  The price you choose to list your home for is the single most important decision that you and your agent will make.  It is estimated that price is as much as 80% of the marketing of your home.  In the age of internet shopping, if you don't have the right price, most buyers will never even find much less consider buying your home. 

Here is the risk:

• Price your home too high and it will sit on the market.  If it doesn't sell right away you are what we call "chasing the market".  Meaning you are now adjusting the price downward to try to generate more interest.  This strategy often ends up costing you money compared to pricing your home correctly in the first place.
• The second scenario is pricing your home too low.  This was much less of a risk in the feeding frenzy of the housing market of say 2006.  If you priced a house "too low", multiple offers would stream in and compete with each other.  In many cases this netted the seller even more money then had they priced it fairly.  But those days are long gone.

Today the best and only strategy to follow is to price your home fairly from the beginning.  This leaves little room for error.  So what is the best way to feel comfortable that the price you and your agent have chosen is going to sell your home? 

Wouldn't it be great if you could have the opinion of several agents and not just one? 

Well you can!

It's called a price opinion, and agents do it all the time.  Here in my office it is as simple as picking up the phone or firing off a few e-mails to other agents that you trust.   I set up a time and meet them at the house.   They go through the home and then we mill around discussing the pros and cons of the house and of course the price.  By the end of the process, you have a much better feeling for the true value a buyer will find in your home.   It is also much more objective.

If you are thinking of selling your home, ask your agent if they would be willing to get a price opinion from other agents they trust.  If the answer is no, ask them why.  Some agents allow their own ego to get in the way, fearing that agents will not agree with their opinion.  Other offices just don't have much of a collegial atmosphere that makes a price opinion an option.  That is really a shame.   I find it a great way to offer more value and piece of mind to my clients as well as a nice advantage over the competition.   

Selling a home is still a dicey proposition right now, but doing your homework upfront can help you avoid a lot of pitfalls. 

Give me a call if you need help.