Pricing your home

As a listing specialist one of the hardest thing to do is price a home correctly. List Price has become even more important now that the market has become softer. Price a home to high and it will cost sellers thousands in extra carrying costs and price it to low and you give it away and cost sellers thousands of dollars. Either mistake can be just as costly.

So a few points about pricing that a seller needs to understand:

1. What you paid for it doesn’t effect the price
2. What your last appraisal shows doesn’t effect the price
3. What you “need” to get from the sale doesn’t effect the price
4. What you paid for your next home doesn’t effect the price
5. What your neighbor claimed to sell their home for doesn’t effect your price.

These are all things that listing agents here as reasons of why a seller wants to sell for higher than the suggested price. Unfortunately the only thing that matters is what a buyer is willing to pay for your home in today’s market. It would be great to get every seller what they wanted or felt their home was worth, but the reality is that most sellers are not realistic as to the value of their home.