Is Proper Pricing really that important? It can always be adjusted!

By
Real Estate Agent with Nothnagle REALTORS

Proper pricing is always important. Houses new to the market, priced properly combined with an effective marketing campaign will drive the most buyers to view the home in the first 2 to 3 weeks.  After that, traffic will significantly decrease. If sellers are not priced properly from the get go, particularly in this market, they are always playing catch up with the market, the listing eventually becomes stale and the agent has an unhappy seller to deal with.  We, as agents, are hired by the clients to SELL their home.  It is important to educate them on the current market and its trends.  It is our job to provide them with all the information necessary so they can make an informed decision. If you do this and they still want to price their property above what it should be, then you, as an agent, have to make a decision as to whether you want to take that listing, knowing you will have to approach the seller for reductions or if you should turn it down. 

Comments (5)

Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Patricia: that is it in a nut shell, gone for now are the days when the next price barrier can be breached on every new listing, now just the opposite is true, If you are not pricing correctly you may as well take the listing for 20 days..

May 23, 2008 01:10 AM
Steve Hoffacker
Steve Hoffacker LLC - West Palm Beach, FL
Certified Aging In Place Specialist-Instructor

Patricia, pricing higher than you think the market will accept is a no-win strategy. better to walk away up front than 6-months later.

May 23, 2008 01:12 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Righ on target - overpricing will not sell a home. Sellers know it, but they don't accept it. An overpriced listing....no thanks.

May 23, 2008 01:15 AM
Associate Broker Falmouth MA Cape Cod Heath Coker
https://teamcoker.robertpaul.com - Falmouth, MA
Heath Coker Berkshire Hathaway HS Robert Paul Prop

It is in my area.  We have many "part-time" agents that don't look at any price range except exactly what the buyers ask for.  I always push the list with higher prices - because you can always offer.

May 23, 2008 01:27 AM
Michael Shankman
Award Realty - Las Vegas, NV
Selling Las Vegas 702-498-3383

good post..homes must bve priced right..we are competing with bank repos and short sales-too many homes for the buyer to choose from.

May 23, 2008 01:30 AM