Keller Williams’ Top Real Estate Agent Aaron Armstrong, of Armstrong Real Estate Group in Nashville, TN, shares his script for pricing a home correctly the first time.
Video by Armstrong Real Estate
Mr Seller, I completely understand where you care coming from. Obviously, you have to be comfortable with whatever price we utlimately decide to put on your property. And it’s my goal to help you maximize the sales price so you can net the most amount of money possible. That being said I’ve got a couple of concerns about starting the list price that high that I’d like to share with you. Would that be OK?
Obviously, we don’t have a crystal ball, and neither of us know what your home is going to ultimately sell for. We do know that it’s only worth what a pre-approved, motivated buyer is willing to pay. Based on the detailed market analysis we just finished reviewing, if we price the property where you just suggested, we are going to be significantly higher than other competively price homes in the market or higher than homes that have recently sold. Since buyers have this same information, my fear is that if we price the property where you suggested, the buyers that should be seeing your home, aren’t even going to take a look. It’s not even going to be on their radar. The buyers that are going to come take a look are going to be comparing against other similarly priced properties.
Those houses are going to have more square footage, more updates, and more improvements. Ultimately, you will be helping those houses sell faster while your home sits on the market and becomes stagnant, and that is definately not what we want. Right?
Remember when I told you earlier that the best chance to sell your home for top dollar is in the first 30-45 days that it’s on the market? You agreed that houses on the market for a long time become stale, have to make multiple price reductions, and are typically perceived by the buyers as having something wrong with them.
We don’t want your property to fall into that category. It might seem that pricing high and leaving some negotiation room is the best strategy, it’s statistically proven that the best opportunity to get the most amount of money possible, and sell for the highest amount in the quickest period of time is by pricing it accurately from the start and pricing it where the market dictates that it should be.
Does that make sense?
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