We recently met with a real estate agent to discuss selling our home. After meeting with her, we talked with friends about the price she suggested we list it for. They agreed with us that it was low. What should we do?
Pricing your home right is one of the most crucial steps in successfully selling it. Most real estate agents understand the importance of a realistic pricing strategy. For that reason, a good agent will research your property and study past sale statistics for homes similar in your area. None will be identical, of course, but understanding the true market value is the first step in establishing list price. She will spend time showing you these, answering questions about marketing time, lowered prices and the history of these properties we call comparables.
It is important to remember that a good agent wants to get the most for your home. She is working with you (not against you) to get top dollar. Her experience has taught her that overpricing it will add market time to your sale and in the long run, discourage buyers. After a few months on the market, your home is old news and folks are wondering what’s wrong with it. Why hasn’t it sold?
If you feel unhappy with what you consider to be a low price given to you by an agent, ask her to justify her price. If you are not satisfied with her answers, contact other agents selling in your area and get other opinions. In gathering information, remember that agents are professionals who help others sell and buy homes for a living. When was the last time your friends, eager to lend their opinion, sold a home?