Pricing Strategy

We want to empower you to arrive at the best asking price. The truth is the market value of your home is what a buyer is “Willing to Pay” and “What you are Willing to Accept”.  Pricing homes is part "science" - research and hard data, part "art" - experience and understanding. The market will ultimately dictate the price. 

 

 

Get good comps.
Does your home have the finishes that people are looking for today? One town may often support higher prices than the same house just 10 miles away. A one-of-a-kind cream puff can bring higher prices than ever expected. Experience, knowledge and hard research are critical here.

 

Price your house competitively.
Price your house as close to the number it will “sell for” as you can.

 

The market value of your home is based on:

 

Current market

Competition

Financing options

Current economic conditions

Condition

Location

Your motivation

Your timeline

 

The market value of your home is not based on:

 

What you have invested in it

What you need out of it

A previous appraisal

What you have heard your neighbors house sold for

Assessed value

How much it is insured for

Prices of homes in other markets

 

 

You can’t underprice a house.
When you price a home slightly under the competition people notice and the sellers receive multiple offers. This often drives the price up to and in some cases over asking price.  At times, this can be a very successful strategy to create urgency and market excitement. 

 

You can overprice a house.
Overpricing your home attracts the wrong buyers and helps sell the competition's home! The average educated buyer has done at least 9 months of research in the market.  They are looking for value and will wait or move on to other properties.  The house misses its “Golden Time”, when we have the highest traffic and most interested buyers.  In our experience time never helps the selling price of a house. We can't stress enough, to maximize your selling price, price your home as close to the number it will "sell for" as you can.

 

Be cautious of suggested prices that sound too good to be true.
Don't let an agent play on your hopes of what your house is worth. Be sure your agent is knowledgable of the current market conditions.  Pricing should be supported by sound market data and experience. You should select your company and agent based on their integrity, skills and the strength of their marketing.