Pricing Your Home to Sell in a Softening Market 

Hi Debe,
You always have great insight and advice. An experienced full-time agent is ALWAYS a good investment and even more so in a shifting market.

Debe this is not only great advice but also demonstrates your experience and professionalism in Real Estate.

Excellent advice as we all face a shifting market. We must have these honest conversations with our clients.

Good Evening Debe Maxwell, CRS 

Replying to you from the White Mountains of NH. Pam & I are taking a few days away as a change of scenery and sameness is in order.

I agree with this 100% "In a declining market, that means you should price your home slightly below the most recent comp.  

It will be interesting moving forward. Some just waited too long before trying to cash in Big

This makes perfect sense. I've had serious conversations with sellers concerning this practical advice. The market has changed and our strategy has to change, too.

I'm seeing many sellers make this very mistake lately. They are pricing the homes as if it was the heyday of last year saying "I'll just wait for my price!" The only problem with that philosophy is, no one has a crystal ball and the homes just sit on the market. Pricing the home "ahead of the market" is a great piece of advice and a good way to explain it to home sellers. Thank you for the well written post!

Debe Maxwell, CRS this is great advice, and exactly where our market is, I will be sharing this with my agents, thank you for sharing your wisdom.

It may be a challenge for sellers to understand this, but pricing ahead of the market is an excellent strategy. If you, for some reason, end up pricing too low, usually it will either sell for more or sell very quickly. Either outcome is preferable to languishing on the market and enduring price reductions.

Great tips Debe Maxwell, CRS.  I have three listing right now.  I think we priced them all well accounting for the market turn, but the turn here was so quick and so sharp, I do not think the trend has been defined well yet (in our area) and two of the three are not getting a lot of activity.  I do have a lot of patience, but this time I do not think patience is a virtue.