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Pricing - Art form or Exact Science?

Pricing your property to sell is the most important part determining if your home will sell or sit with a for sale sign in your yard for months on end. In my opinion, pricing your property accurately is more often an art form than an exact science. I explain why on my blog post and include 3 Simple Steps to pricing your Property

Posted by Sam Basel ~ Estes Park, Colorado REALTOR® on 11/01/2008 02:28 PM

Comments (4)

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4 Comments on Pricing - Art form or Exact Science?

NOV

2008

I'd like to respectful disagree with your first option on pricing your property. On line evaulations are often way off the mark. They take into consideration sales from as long ago as 18 months. In our market anything more than 3 months is to long.

Pat,

Thanks for commenting. I know Online evaluations are not always accurate - thats why I only recommend it as ONE of the steps. When I do recommend this, I recommend seeing multiple online opinions of value to compare. Usually, this results in a somewhat accurate range of price. I do this because I have run into several sellers who are way off in their opinion of value (by 25-30% off sometimes). At least it will give them a ball park. Usually, when they see the range, they know that they can't rely on just one site's result.

In short, I see value in the online valuations as a big picture view. Realtors equipped with the MLS and experience in the marketplace will be far more accurate.

NOV

2008

I've seen online values off so far that they do nothing but confuse buyers and sellers and makes it difficult for them to make a rational decision. I think online values do a disservice to the industry.

NOV

2008

Steve, Thanks for the comment. I agree that sometimes the online values can be WAY off. Thats why I suggest seeing multiple online valuations for a ballpark figure.

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