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PRICING PROPERTY
TO SELL IN A BUYER'S MARKET
On the Insider under “Agent Tools” is a spreadsheet entitled “Competitive Pricing Analysis”. This allows you to research the existing homes for sale in each price range and guide the seller to price the property in a range that will compete with other homes on the market, and not just base the asking price on comparable sales. Check it out and let us know if we can help. A listing that does not sell is a liability, but a listing that is priced correctly in today’s market will sell. Good luck! |
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In most every market across the country today, Real Estate Professionals are coping with the challenges of a “buyer’s market”, which means that the supply of homes to sell exceeds the demand, or number of buyers in the market to buy. Sellers are weary because this market environment means that they usually will not realize top dollar for their house. Therein lies the challenge for us, the professional. When we counsel the seller to competitively price the property in today’s market, it means that we must discuss supply and demand, retail vs. wholesale, and competing properties currently listed. Just think about the local department store….when they have
too many Navy Sport Coats in the inventory,
they mark the price down to sell the coats. In theory, our real estate market is in a similar situation and many sellers are not willing to price their home to sell in today’s market. Certainly,
it is the seller’s decision to sell at today’s price or to take the property off the market and wait until a later time. BUT, our responsibility as the Listing Agent is to explain the options and the realistic pricing strategies.