Pricing Your Home?

By
Real Estate Agent with Keller Williams Realty - Topsfield, MA 92593-B

 Location, Location, Location. Pricing, Pricing, Pricing. These are two factors that have a big impact on Real Estate. With demand so high in our area Sellers are tempted to put a higher than usual price tag on their home. We as Real Estate professionals are not market makers. We are market sellers. I think it is best to place a realistic number, one that corresponds with the market data for that area. I also work from the premise you can place a price too high and the property may/will languish. Price it realistically. Demand for Real Estate is high. 

Here's some insight from the folks at KCM  

 

How Pricing Your Home Right Makes a Big Difference

How Pricing Your Home Right Makes a Big Difference
Even though there's a big buyer demand for homes in today's low inventory market, it doesn't mean you should price your home as high as the sky when you're ready to sell. Here's why making sure you price it right is key to driving the best price for the sale.
If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in their search process. Why? When potential buyers look at your listing and see a great price for a fantastic home, they’re probably going to want to take a closer look. This means more buyers are going to be excited about your house and more apt to make an offer.

When this happens, you’re more likely to set up a scenario with multiple offers, potential bidding wars, and the ability to drive a higher final sale price. At the end of the day, even when inventory is tight, pricing it right – or pricing it to sell immediately – makes a big difference.

Here’s the other thing: homeowners who make the mistake of overpricing their homes will eventually have to lower the prices anyway after they sit on the market for an extended period of time. This leaves buyers wondering if the price drops were caused by something wrong with these homes when in reality, nothing was wrong, the initial prices were just too high.

Bottom Line

If you’re thinking about selling your home this year, make sure you have a real estate professional on your side to help you properly price your home and maximize demand from the start.

Posted by

I pray that God our Father and the Lord Jesus Christ will be kind to you and bless you with peace

2 Thessalonians 1:2

 

Doug Dawes REALTOR®, AWREP, LMC

Broker Sales Associate

KELLER WILLIAMS REALTY - Topsfield/Newburyport

49 Main Street
Topsfield, MA 01983
 978-887-3995  ~ Office
 978-270-3037  ~ Cell
 DougDawes@KW.com

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Topic:
Home Selling
Location:
Massachusetts
Groups:
FOR SALE BY OWNER - MARKETING(FSBO)
New Hampshire - Real Estate and Life in The Granite State!
MA REALTORS
Boston Area Real Estate
Tags:
pricing
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Rainmaker
4,228,137
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Doug, GREAT POST, as pricing is so important when listing a home.   It can be difficult with no relevant comps.

Feb 12, 2020 06:45 AM #1
Rainmaker
2,147,103
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I've seen too many sellers think their home is worth far more than it was and price too high, against advice from their agent. One of those sellers actually ended up losing their home to the bank.

Feb 12, 2020 06:58 AM #2
Rainmaker
3,306,860
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Doug excellent blog and one that is so important for sellers to know about.  

Feb 12, 2020 07:01 AM #3
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

That is a real challenge Joan Cox 

When there are no relevant comps we have to use a number of different factors and methods to ensure our opinion of value is accurate 

Feb 12, 2020 07:19 AM #4
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

That's what we hate to see Sharon Tara 

With Real Estate we have to keep the green-eyed greed bug at bay

Feb 12, 2020 07:21 AM #5
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Will Hamm 

Thank you. Yes, pricing is way important and sellers have to be educated about it.

Feb 12, 2020 08:12 AM #6
Rainmaker
1,504,080
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Pricing and location are definitely two incredibly important factors in getting a home sold quickly and for the best price.

Feb 12, 2020 08:40 AM #7
Rainmaker
2,050,559
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Doug Dawes - I is wise to listen to a real estate professional who knows the market.

Feb 12, 2020 10:43 AM #8
Rainmaker
2,113,039
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Doug Dawes - All the best to you in successful sales and continued happiness for all the people you serve in the Real Estate industry.

And of course, I wish the best to you always!

Feb 12, 2020 09:24 PM #9
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Kat Palmiotti 

Even with those two factors, sellers must be careful about unleashing the greed bug

Feb 14, 2020 06:23 AM #10
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Grant Schneider 

Absolutely, it's not good to hire a bad one or go into the process without the skills of a professional Realtor®

Feb 14, 2020 06:24 AM #11
Rainmaker
820,625
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Well, thank you very much Patricia Feager, MBA, CRS, GRI,MRP and may I offer the same blessing to you ?

Feb 14, 2020 06:25 AM #12
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