Category: Pricing Your Home

It can be intimidating to price your home, but there's no reason to spend too much time worrying about the long-term implications of your initial price. This post explains why. Today, almost all serious buyers are signed up for alerts when new properties come on market that match their price, bedroom and location parameters. Within the first couple weeks you list, almost all serious buyers looking for properties in your area will see your house for sale, make appointments and potentially make o

If an agent promises they can sell your home for more money than any other house on the block, you should hire them right away, right? Not so fast. Remember, a real estate agent's pitch is designed to get you excited to work with them. Read on to learn why you should be wary of pricing advice from agents looking to land a new client -- you! When a realtor comes to your home to pitch their service to you, they know that by promising you they can sell your home for more than other agents are say

We often hear from home sellers that they will only accept an offer at $X+ price because their home is superior to another home in their neighborhood that just sold for $X.We caution such sellers to be very careful. Here's why. You can easily get tripped up by small data samples and decline offers you might otherwise accept. For example, we recently had a property in San Mateo listed at $599,000. Six to eight offers came in between $660,000 and $680,000. However, one offer was $740,000. The sel

Pricing your home requires a thoughtful evaluation of your local market, recent home sales in your area, the unbiased value of your home and more. To make sure our sellers set an accurate list price on their home, we ask them to answer the following last minute pricing questions prior to listing. 1. How does Redfin's estimate of your home's value compare to your price? Go to Redfin.com [https://www.redfin.com/] and type in your address to learn. Nationwide, Redfin's median error rate

Retirees can't afford to make financial mistakes because they don't have a lifetime of work to make up for their errors. So if you're preparing for retirement and are planning to list your home, getting the pricing right is critical. This post explains exactly how you should go about pricing your home for sale. The Big Mistake You Must Avoid: The biggest pricing mistake [https://www.homebay.com/tips/4-ways-overpricing-your-home-can-hurt-your-sale/] you can make is basing your list price on how

The best listing price strategy is to list at or below market value. A wealth of data supports this conclusion. Zillow's Data Says Never Price High Spencer Raskoff, the CEO of Zillow, wrote a book where he devoted a chapter to pricing and included Zillow data over millions of home sales. Zillow concluded that if you price high, you will make 4% less than if you price at or below value. That means you lose $40,000 on a million dollar sale, and $20,000 on a $500,000 sale. Moreover, Zillow statis