AgentIndustry News

Real estate pricing tips for sellers

Good news and bad news about common strategy

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This column is addressed to every home seller in America. Your obvious goal is to get the highest possible price for your home. I'd like to share a little-known process about how you can get more showings per day than all the competition on your side of town. Also, I'm offering some tips on how to get more qualified prospects per day -- and there is a difference. It has to do with your pricing strategy. One strategy is to price it right and sell it. Another is to price a little higher than market price and expect offers. Another is to price it over the moon and hope someone comes along who just fell off the turnip truck. The latter is the most common strategy among sellers, and this is the one I'd like to focus on. Let's say homes like similar homes in the neighborhood are selling for $200,000, and the seller has spent $5,000 upgrading it for sale. So, the seller insists that the price has got to be at least $205,000. The seller doesn't have any equity in the home, and needs a...