Pricing It Right

  • Nest Realty
  • 05/28/21

Pricing your home can be a tricky process. Too low, and it may sell quickly, but you won’t get the best return on your investment. Too high, and your home might stagnate on the market, losing you money in the long term. What does pricing it right take?

Lucky for you, if you’re working with a Nest agent, you already have a great listing agent on your side. They’ll be able to look at factors in your home including condition, upgrades, location, and special features, then compare your home with other similar homes in the market. Backed by meticulous research, they can list your home in the sweet spot that will attract the greatest number of potential buyers without underselling your property.

Don’t be lulled into believing your home is worth a certain amount just because you see an estimate online. Internet aggregators, known as automated valuation models (AVMs), often overlook important information that can make a huge difference in pricing. It’s always better to listen to your agent and rely on local market data to price your home accurately.

AGENT ADVANTAGE

What information does a real estate agent have access to that can help them price a home better than an online tool like Zestimate?

  • Agents get to work in similar houses in your neighborhood and other areas, so they see the real prices that similar homes command all the time.
  • They also know what upgrades you’ve done and what condition your home is really in, unlike AVMs that often use outdated information to make their pricing suggestions.
  • Other information like traffic patterns, local business openings, and zoning adjustments can be overlooked by a computer program.
  • The market changes rapidly at times, and online aggregators just can’t keep up as well as an agent who’s actually selling homes in real time in your area.

If your home doesn’t sell right away, you may want to consider lowering the price. Your agent can help you strategize. Remember, you only need one offer to sell your home—the first offer is sometimes therefore the best. In our next few posts, we’ll look at how to build your selling team and learn some tips to showing your home so you can make the best impression possible and start attracting offers.

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