Pricing Your Home to SellStormy Randolph

In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood (which can be in the form of a printed list from us, or online search results that you’ve found yourself), buyers will determine which houses they want to view. Consider the following pricing factors:
  • If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR to “Bring me any offer. Frankly, I’d take less.” But in that list of houses, yours simply looks too expensive to be considered.
  • If you price too low, you’ll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.

NOTE: Never say “asking” price, which implies you don’t expect to get it.

To determine the proper list price, contact me today and I’ll provide you with the following professional services:

  • Furnishing comparable sales.
  • Analyzing market conditions.
  • Helping to determine offering incentives.
  • Estimating your net proceeds.

Using Comparable Sales

No matter how attractive and polished your house is, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood that is similar to yours.

I can furnish data on sale figures for those “comps”, and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales I bring to you, along with data about other houses in your neighborhood presently on the market, is used for a “Comparative Market Analysis (CMA).” To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices. I also feel it is important to know your competition and homes currently under contract (pending) to see what is selling, how quickly, condition, and be able to see what a buyer does or doesn’t want in the current market.

This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by me and may include properties currently listed for sale and those currently pending sale.

In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn’t been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.

Together we will go through all of this information to help you determine what you would like to list your home price at. The decision is yours but I will always provide you with my experience and information to guide you and advise you during that decision making process. As your listing agent it is always my goal to get you the best price and contract terms possible to sell your home and ensure you are a happy client.

Contact me today for your FREE Home Price Evaluation – call me directly at (480)785-6110 or by email at SoldByStormy@gmail.com