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Berkeley Realtor Home > Tools for Berkeley Real Estate Sellers > Strategic Pricing to Sell Your House

Strategic Pricing to Sell Your Home

“One crucial aspect of selling a house is correctly establishing its initial asking price. If a seller prices a house near its fair market value, the house usually sells quickly for top dollar. If, on the other hand, a seller grossly overprices a property, it tends to linger on the market month after month…

Ironically, instead of getting more money…[over-pricing] usually stigmatizes a property and reduces the eventual sale price to less than it would have been with more realistic pricing.

Don’t be misled by asking prices [of other properties on the market]…Sale prices, not asking prices, determine fair market value.”

            – Brown & Tyson, House Selling for Dummies

Many sellers think that an overpriced property simply can be reduced if it doesn't sell. The danger with this approach is that by the time the property is finally reduced to its market value, it may have been on the market so long that buyers perceive it to be a tainted property. Buyers then question how long the home has been on the market and why it hasn't sold. Their offer to purchase, based on that knowledge, may be below its actual value.

I will use market research to arrive at an initial price that is both realistic and fair to you as the seller but also attractive to buyers. This pricing process, takes into account a number of key factors, which include the property location and condition, as well as the market History and current activity.

 
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