Pricing your home to sell in a buyers market

By
Real Estate Agent with Diane O and Friends - Benchmark Realty 290309

Mt. Juliet homesSelling a house means pricing it correctly

The one most important thing you do when selling your home is done on the evening that you list it with a Realtor....Setting the price.  The value of your property is determined by what a BUYER is willing to pay in today's market based on comparing your property to others SOLD in your area.  Remember...sold not listed.

Old school thinking is to price it "a little high so we can negotiate the real price."  Not today.  People have too many choices and can easily access information on the property through the internet.

Price it to the sold market and it will sell.  Too many agents will run comparative market analysis and suggest the list price as the price homes are listed at.  NO....you need to price your property at what the comparable house sold at.

Below is a Comparative Market Analysis Reports for the Fieldstone Farms community here in Franklin.  You can see that the average is listed for 119.29/sq foot, but they are selling for $110/83

                             Fieldstone Farms Comps       

 So remember when pricing your home DO - Price at what comparable properties are selling for and DON'T PRICE ON:
   
                                                                      

 

      

 

         

Posted by

 

Benchmark Realty,318 Seaboard Ln., Ste 115, Franklin, TN  615-371-1544
Diane Osowiecki, license #290309 cell - 615-406-2184  email  diane@dianeo.us
Bob Osowiecki, license #325031  cell - 615-878-3902 email  bobointn@gmail.com
 

Comments (7)

Laura Reilly
Real Living Real Estate Professionals - Redding, CA
Home Sales Realtor - Short Sale Team Member - Redd

Nicely put, I like the buttons. Makes a great statement. Good job thanks for the post.

Jan 18, 2011 02:50 AM
Vic Mariano
Keller Williams Integrity First Realty - Mesa, AZ

Great advice, thanks for posting...

Jan 18, 2011 02:51 AM
Sonja Babic
Sonja Babic/PRIME Realty NC, LLC - New Bern, NC
New Bern NC, PRIME Realty NC, LLC

I have this picture in my listing book for years now. Now days more then ever I can not afford overpriced listings. Happy selling

Jan 18, 2011 02:53 AM
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Diane - If only sellers would listen to this advise. It's all about the price. We can put the home on every website in the world, but if the buyers think it's overpriced, it's not going to sell.

Jan 18, 2011 02:57 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Diane, 

Love the six buttons.  Typically, I have to ask the sellers to think like a buyer and do they want to buy based on what a seller paid or put into the property, or what today's market value is?  Hard to justify after that. 

All the best, Michelle

Jan 18, 2011 03:01 AM
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

I love the buttons, too! Very clever but most important, very, very true! I hope sellers take a moment to read your blog. - David

Jan 18, 2011 03:07 AM
Elizabeth Colton Walls
Fridrich & Clark Realty LLC - Nashville, TN

So true, esp the 6 Don'ts!

Feb 16, 2011 11:47 AM