It is a touchy subject...pricing a home for sale. If you study the current absorption rates and understand your markets actual odds of selling, then perhaps what we really need to educate our sellers on is how to determine the VALUE of their home.
When you shop for a new outfit, you pass by all kinds of prices you are NOT willing to pay, until you find something of VALUE.
Realtors and Sellers do not determine home values. Appraisers do not determine home values. Only current market conditions and buyers determine actual value. Once a deal has been struck between a buyer and seller, that is where the value is determined. A home is only worth what someone is willing to pay for it.
I think showing several comparable properties is good, but how about getting in the car and actually taking your sellers through their competition? Information is POWER. In order for the market to loosen up and begin to have a better flow of properties selling, the issue of pricing and value must be addressed by all of us in this industry.
The longer I am in this business, the more I want my listings to sell, not sit. I want my seller's to be able to get where they want to go in their desired time frame. I welocme your comments and ideas.
BethAnn Long ~ Spokane Realtor- Coldwell Banker Tomlinson South Inc.
...there's no place like your home!