Selling a home can be a very emotional process, but I will help you approach the price decision objectively in order to achieve top dollar.
Whether it’s a “seller’s market” or a “buyer’s market”, placing the right listing price on your Seattle home is crucial in order to achieve the very highest sales price in the shortest amount of time.
Pricing a home is part science and part art. This topic is exhaustive and I only touch the surface here. I have a deep understanding of pricing strategies honed over a 30 year career. Here is where a local expert whose “feet are on the street” is invaluable to you, the seller! I have an intimate knowledge of the Seattle market. I personally tour between 10 – 20 homes per week so I have first hand knowledge of what exactly is selling, why, how fast and for what price. My price recommendations are backed by my somewhat obsessive analysis of market data and a deep understanding of the shifting economic and competitive Seattle market landscape.
Factors In Pricing
The strongest factor in pricing is simple economics: supply and demand. Home values do not exist within a vacuum and a home is “worth” exactly what the market will bear at any given point in time, depending on current market conditions. Home value depends on the number of interested buyers, (demand) and other available inventory (supply) in the market area. I have a finely tuned sense of what buyers value and what influences price, and of how demand in the "micro markets" can vary by neighborhood, zip code, street, school reference area or even block by block. A million other details converge to determine the final value of a particular home: proper marketing to the target buyer pool, condition, preparation, views, and more.
I will provide a thorough and accurate CMA, establish the correct range of value in which to determine the listing price, and have a marketing, staging, preparation and negotiating plan to ensure your home receives top dollar.
Many homeowners want to set their list price based on what they paid for their home, the balance of their mortgage, or on the profit they want to make so they can move into another home. If you’re interviewing several Realtors to choose a listing agent, you may be tempted to pick the agent who simply suggests the highest price. “This agent is the only one that agrees with my price. I’ll just list with them.” While this might be a good strategy for an agent to “get a listing”, it is an extremely poor strategy to sell your home for the highest possible price in the shortest amount of time. The Realtor who provides the most accurate comparative market analysis backed up with sound data will be more likely to sell your home quicker and for a higher price than someone who tells you only what you want to hear.
Home values are not "fixed" but exist within a range. It is very important to objectively price your home within the proper range of value. If your home is overpriced, the right target buyers will not see it. Even in a “hot” market, this is why some homes sit on the market for long periods of time. A seller may think that if a buyer likes their home but considers it overpriced, they could at least “make an offer”. This rarely happens and almost never in a fast market. Buyers simply will not waste their valuable time “making an offer” on an overpriced home, while missing out on all the comparable homes that are priced correctly and are flying off the shelves. An overpriced home just makes correctly priced homes look that much more attractive - so all you are doing is helping your competition to sell their homes faster. Price your home correctly the first time to achieve top dollar.
If you would like to talk more about listing your home, contact me for a free consultation!