How do I know how to price my home?

Services for Real Estate Pros with Homes By Owner Mi

Pricing your home to sell is the number one error for sale by owners make.  Realtors handle the pricing structure of a home much the same as anyone who stopped and reviewed the process.home

Realtors look at currently listed properties to see the competition for your home.  They next look at the sold properties...and the more recent the more valuable the information becomes.  For example homes that sold last year are not relevant in todays market...the market changes.  Realtors have another tool that most for sale by owners do not have.  They have the MLS data that gives them the homes that are pending.  The actual purchase price will not be available even to Realtors until the home sells.

The bottom line is you price your home.  Realtors and appraisers only make recommendations.  Remember that the pricing process is one of the most important aspects of creating buyer interest.  Buyers are no different than you.  They keep track of the market too.  They may have been watching a certain neighborhood for months before making offers.

To expect top dollar for your home it has to be in top condition.  Would you pay top dollar for a home that needs repairs and has poor curb appeal?  Probably not.

Do your research and price your home to sell.  You will attract more buyers sell faster and for more money.

Comments (5)

Gary Bolen
McCall Realty - South Lake Tahoe, CA
CRS - Lake Tahoe Real Estate Information
We think it goes something like this... find a REALTOR you can trust... and trust them. Seems so simple, doesn't it? Good post.
Dec 09, 2007 02:24 PM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Thanks for the comment Gary.
Dec 09, 2007 02:28 PM
Jorge Zarate
Re/max Elite - Gilbert, AZ
Many homes are over priced and it's mostly because it's hard for us to let go of simple human nature. As buyers, we want to buy when the price is fair or below. As sellers we want to sell when the price is fair or above. Supply and demand takes care of price declines or increases. The only way to price a property right is understanding what the market is doing in the present time and lead the market (not follow it). Our job as realtors is to bring to sellers and buyers, unbiased and objective information about what the market is doing where it's headed. 
Dec 09, 2007 03:01 PM
Selling Your Way
Homes By Owner Mi - Lansing, MI
Hi Jorge, that for the are spot on.
Dec 09, 2007 03:04 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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