When it comes to selling a home, the single most important factor is to price the home correctly. If you overprice the house, it’ll sit without views, underprice it, and your sellers could be leaving money on the table. So, how do you price the home to help it sell quickly and ensure your clients are happy? Here are three tips to keep in mind on your next listing appointment when it comes to pricing the house and winning the listing.
Remind the Sellers to Remove Emotions
Many homeowners believe their home is always worth more than what you as the real estate agent recommends, and that’s understandable. They’re not looking at the house as a product; they’re looking at the place where their family made memories. When emotions come into play, it can be hard to separate them. When you’re discussing the pricing with your clients, listen to them, but remind them that ultimately, it’s the buyer who decides what the home is worth. It’s your job as the real estate agent to walk them through the process of what happens if a house is overpriced.
Come Ready with a CMA
When a homeowner decides to sell a home, unless they already have a close relationship with a real estate agent, there’s a good chance they’re going to be interviewing a few different agents to find the one that’s right for them. Make sure you set yourself apart by preparing a comparable market analysis ahead of time. That way, when they tell you that another agent recommends a higher list price, you’re able to explain why your list price may be better suited. Remind them that as their real estate agent, it’s your job to have their best interest at heart, and you have a fiduciary duty to get their home sold, not to tell them what they want to hear.
Be Open to Zero’s
Most agents tend to list homes with a price that ends in 9’s because the saying goes zero’s invite negotiations. However, it’s ok to be open and embrace the zeros to allow yourself more search options. For example, if you price a home at $400,000, it’s going to show up in double the searches, those who put in $350,000-$400,000 and those that search $400,000-$450,000. If the home is priced at $399,999, it won’t show up in the second search.