BrokerageIndustry News

Compromise vital when pricing real estate to sell

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Pricing a home, arguably, is one of the most important jobs you do in taking a new listing. Price it too high and it will sit there for months, leading to an angry customer and a lost listing. Price it too low and it will get snapped up, leaving money on the table. In our last article on pricing, we discussed how to collect good market data about pricing and economic trends in your market that support the price you are recommending for their home. This step gives you the information you need to price it correctly and helps reduce customer resistance to your advice. Still, many agents like to know exactly what to say to the customers, especially if they fear that the customer is going to question the price named. This can happen for many reasons: because prices are softening; because prices are higher in the market where the customer is headed; because the customer has borrowed too much money against the house and needs a certain price to pay off the loan; or simply because "a neighbo...