My Home Is Worth How Much?

Alright, so first let me say, don’t EAT the messenger. The lion just kind of scares me a bit!

That being said, the most important detail for selling a home is going to be the price.  How do you come to the right price for your home?

There are some important things you need to consider if you are planning on selling your home.  Some things that should be cleared up before it even goes on the market.  Here are some tips that will help you be more prepared, as your Realtor should be.

When pricing your home, your most prized pocession, your baby; who are you going to trust with a dollar amount? You might think that your home is worth so much because of all you have done to it.  You put in over $1000 in yard work, you made sure that there was a new sink put in the kitchen, oh and you put new carpet in the basement.  The home is well taken care of and you have had the lawn doctor make your yard the greenest in the neighborhood.  You have kept it well maintained and even painted the floor in the garage to shine like Wal-Mart. So how are you going to come to a dollar amount?

I am here to tell you it is harder than you think. If it was easy getting the right price, everyone’s home would be selling! It takes a professional.

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If your listing agent knows how to price your home effectively, you’re much more likely to have a successful outcome and everyone will be very happy. Get pricing wrong, on the other hand, and you’ll suffer the consequences from all sides: buyers will skip your home, you will be upset, and the home will be on the market for a very long time. That is in a good market. Which, let’s face it, the market in Clarksville has been very slow. There are more listings in the local market with fewer buyers. So the length could not only be the price but the quantity the buyers have to choose from.

So how do you price it right? You are really the ones in control of the pricing. Your agent should have a well-planned strategy reaching a figure that’s appropriate for Clarksville’s market. If they have reliable proof and you ask “why that price?”, or you might say, “But my house is worth more than that!” then it’s time we educate you on the process of determining a listing price.

Here are just a few things to educate you, to help:

1.  Communicate the condition of your home. Often overlooked as a critical part of a pricing plan are what updates have been made in the past five years, what makes the home unique or special, as well as other pertinent information that could affect the price. This information is used to help in determining the best listing price for the home.

2. We don’t skirt around pricing at the listing presentation. We know that pricing your home can be a touchy issue, and some salespeople try to avoid it until the last minute. We do not! We like to be upfront about the home. (To find out more about what our listing presentation consist of and you are interested in us coming to view your property, contact us today!)

3.  We do a thorough investigation of your home. Gathering listing and tax information for comparable properties; conduct drive-bys of those properties; and perform a thorough visual inspection of your home so you know how it stacks up with the competition. Review, sort, and select the best comparables, then put all of the pertinent information together in format that will be easiest for you to review and understand.

4. We use the right tools and documentation. Many real estate professionals today are using comparative market analysis (CMA) tools that let them send their analysis directly to you via e-mail. This is a great way to deliver the information in a timely manner, but we would like to be in front of you to explain our conclusions. It takes us a certain amount of time and effort to assemble this information and we would like to show you our insight and expertise in the selling of your home.

5.  We provide consistent communication during our listing. Consistent communication builds the confidence of you in us. You will see that we are working to sell your home, not just putting a sign in the yard, lockbox on your door and fliers in the box and waiting for someone to call!  We communicate on a regular schedule, preferably weekly, to update you on market activity and what that means to your home.

6.  We schedule the possibility of price discussions in advance. A price adjustment will not come as a surprise to you and will be totally up to you whether you think it should happen or not.

So, if you are saying WHAT?? to a price that a Realtor has suggested, if you are signed to them under a Listing Agreement, then I would suggest communicating with them.  If you aren’t signed to anyone, then please let us help you in your quest to find the right price and sell your home!

Being a Realtor in the state of TN we are not legally allowed to charge or be the expert of an appraiser. We are Realtors. We hold a Real Estate License.  We don’t hold the Appraiser license.

So if you are a potential seller who would consider letting us work for you, then please contact us and we shall schedule a time to get started!

My Home Is Worth How Much??