I walked into a dated older home in Winnetka recently during brokers' tour. Afterwards, I peered at the listing sheet and must have snorted because the listing agent said: "It's not me, the seller always says what the price will be."
Well, yes and no.
Yes because it's your house, your investment, your decision.
No because it's the biggest mistake you can make.
As a listing agent, my first job is to interpret the comparables and discuss those with you. The comps are the number one resource we have - and if we're good agents, we've seen all those homes as well. While no two houses in the North Shore are alike, they can still be compared because we'll make adjustments up or down based on condition, location, updating, etc.
No amount of flashy marketing or online video tours can camouflage an overpriced listing. I can sit down with you and show you how sellers who stood firm on a higher price got less than they would have if they priced right to start with.
How do you avoid that? First, talk with several agents, be open to all ideas, suggestions, and price points. Most agents, like me, will give you a reasonable price range, say between $750,000 and $825,000. I will give you scenarios of choosing the higher end over the lower end. Yes, it's a seller's market, but tread carefully
It can be the hardest decision a homeseller makes. Pricing your home close to where it should sell is the best strategy for you to net more on your house.
Don't worry about:
"giving it away," or
"low ball offers."
They can all be dealt with - price it right when you first list and good things will happen. Like selling for a higher price, shorter days on market, easier and faster move, and best of all, peace of mind.
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Filed under: Real Estate