Pricing strategies as a seller

[Sasquatches]

Originally Posted by BoBromhal

those Realtors should be able to justify their statements.

"here are the last 6 sales. These 3 took price low, get lots of offers. Here's how long it took, and what they sold for. Here's 2 that took the price it high and wait for offers. here's how long it took and what they sold for."

That’s fair, the main issue is the last sales were in Nov/Dec and there’s essentially no inventory in the area.

[Grlzrl]

Originally Posted by adjusterjack

Do your own market analysis. Go on Zillow (ignore the Zestimates) and look at recent home sales in your subdivision (3 to 6 months). There will be photos inside and out as well as details. Compare your house to those sales and pick homes that compare closely to yours. That's what buyers will do.

Then you'll have your potential asking price and you can adjust up or down as you see fit.

Make sure you are looking at recent comps. Zillow uses comps from 2016 for my house.

[Grlzrl]

Originally Posted by ea1420

I think it’s quite difficult to price appropriately these days. My realtor did a comp analysis and recommended a range. I price my home in the middle of that range with the hope of getting a couple of offers at or slightly above list. Instead I got 10+ offers and most of those offers were between 10-15% over list. Neither my realtor or I expected that outcome. It wasn’t intentional. And one of the other realtors I interviewed actually suggested pricing my house 10k less because she was concerned that my house at the price I ended up listing at wouldn’t generate enough interest to sell quickly.

So I think in many areas it’s a bit of a mystery. While almost all houses sell for multiple offers in the first weekend in my area, there are a couple of houses that seems to be very well priced, seem really nice, and just are not selling.

Realtors are not perfect. Sometimes it takes them a while to realize what's going on in a market, too.

[ea1420]

Originally Posted by Grlzrl

Realtors are not perfect. Sometimes it takes them a while to realize what's going on in a market, too.

True, however, in my case I think this particular realtors short coming was that she didn’t specialize in my specific part of town. The other part was that she wanted to price my home lower, and she wanted me to do a lot of upgrades (new flooring, new faucets, etc.). The location commands a price premium, which I don’t think that realtor factored into her pricing. However, this is the whole reason I interviewed multiple agents. I wanted to pick the person who I thought could do the best job, and I’m happy with my choice. And, all I did was have the carpets stretched and cleaned, replaced the bulbs with brighter ones, and cleaned.