This One Thing Separates The Listings That Sit and The Ones Who Go Pending

It’s not location. It’s not staging. It’s not the condition of your home!

The one thing separates the listings that sit and the ones who go pending is the PRICE.

Whether your home is a run down shack or a waterfront mansion, pricing your home poorly will make your listing as stale as french fries found under a car seat. 

So how do you price your home correctly, anyway? There are three things I consider when helping my clients choose their asking price.

Consider the comps

What are other homes like yours selling for in our market? I’m looking at more than what each home was listed for, too. I’m looking at their original list price, their actual selling price, AND how long it sat on the market. This gives me a good idea of what the market value is and what your home would likely be appraised for.

Consider the current market

What’s happening in our current market? Are homes sitting for a few weeks/months before going pending? Are certain neighborhoods getting 12 offers on day one? Have the interest rates just shifted again? All of these things are important factors when determining our asking price.

Consider the condition

What condition is your home actually in? This is not a time to take things personally, by the way. There’s no wrong answer. It’s ok if your home is practically brand new and picturesque, and it’s ok if your home is loved and lived in. It’s just that, whatever condition your home is in, the price needs to reflect that.

Once we sit down together and discuss these three things, I will provide you an asking price range that reflects these considerations. Ultimately it is your choice what you want to ask for your home, but it’s my job to do the homework so you can make an educated decision with confidence.

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