Pricing your Home Right is Critical to your Selling Success.

Learn Why Here!

The single most important factor to consider when pricing your home is the price tag.

No kidding, you say. But the process many people use (including some real estate agents) to establish a selling price is often misunderstood and often flawed. The right price is a balancing act between between the emotional and rational factors involved in selling your home. Let's look at these more closely.

Selling your home is often a very emotional process.

You may decide to sell for a million different reasons. You're under financial pressures, children going off to college, you need a bigger home, you're relocating for a new job, the list goes on and on. Any of these have the potential to make your life very stressful. Add the pressures of pricing your home, trying to sell it, packing, moving...and things only get worse. Every seller, including me, wants to sell their home at the highest possible price in the shortest amount of time.

But, the problem is that the rest of the world isn't too concerned about our problems.

They don't care about our financial problems (unless they get a better deal!). They aren't concerned about our kids going off to college. Our job status is irrelevant to them. They're simply trying to buy the best house they can find for the lowest possible price. This could be a house in Belle Meade selling for $4 million dollars or a starter home in Antioch selling for $115,000. That fact is universal, everybody wants a great deal when they buy a house. Never forget this when you decide to sell.

This leads to the the worst mistake you can make when pricing your home.

And that mistake is initially pricing your house too high. The usual thinking goes along the line of, "Well, I can always come down later if it doesn't sell". HUGE MISTAKE. I don't have enough space on this page to tell you how many times I have seen this happen. That approach just doesn't work if you're serious about selling your home in a reasonable period of time.

If you really want to sell your home - price it at what it's worth.

DON'T establish your home's price based on what you "need or want". Buyers only care about what it is worth. Does your home compare favorably to similar homes close by? It better because the first 30-45 days after your home goes up for sale is CRITICAL. That's when you'll see the greatest excitement and activity levels among buyers and agents.

Price it right and it should sell. Price it wrong and it will probably become "stale". Showings will dry up. You'll become discouraged. Ultimately, you'll most likely end up dropping the price anyway or taking it off the market.

So, how do you determine the right price for your home?

Unfortunately there is no magic formula. Like all cities, the market in Nashville always fluctuates to some degree. So, if you ask 5 different people to price your home you'll probably get 5 different answers. That's to be expected. Don't be concerned by that. But they shouldn't vary too much, typically less than 10% or so. Click here for a good guide to use in pricing your home for a quick sale.

Remember, in a perfect world, your home would be worth exactly what you need it to be.

But, simply put, your home's value isn't determined by YOU. Sure, you can set the price as high as you'd like....but the real value is always determined by what a willing buyer will pay for it at a given time. And today, most home buyers research property values on the Internet for months, look at lots of homes and aren't in any hurry to buy. All of these work against the sale of an over priced home - so don't let it be YOURS.

I hope this overview helps you.

Pricing your home can be a bit tricky at times, even for professionals. It's not as simple as picking an average price-per-square-foot selling price and throwing out a sign. It requires much more thought and research.

If I can help you at all in this process, just give me a call at 615.497.6643 and we'll discuss it further.