Blog Stories Importance of not over pricing your home

Importance of not over pricing your home

By Julia Robertson, April 15, 2019

I’ve shared with my clients over the years that there are three ways to price a home. One, the highest price possible. Two, at market value. Three, just below market value. Every agent has their own pricing strategies. These have worked for me, and I’ve found pricing at a sweet spot below market value can bear a final price higher than both market value or the highest price possible. Once we’ve reviewed the recent sales of the neighborhood, we decide which strategy to use based on the home specifics, most importantly the condition and location. Its important to understand the state of the market and know pricing your home in the “old” real estate market is not the same now in the “new” real estate market. It’s also important to understand how buyers shop in the “new” market. Buyers are smart! Buyers have been researching homes, neighborhoods, and determining the value of your home before they’ve hired an agent to represent them.

I’ve found that many homeowners cannot grasp the idea that pricing their home competitively(slightly below market value) will create more interest and yield a higher sold price. If a homeowner has not sold/purchased a home in many years, their expectation is to receive an offer under their listed price, then to further negotiate. Their idea is that they’ll have to negotiate lower than their listed price to begin with, finally settling on a price below the “highest price possible”.  With the examples I’ve copied below, you’ll see that the majority of homes that sold below the listed price, were also on the market for a longer period of time. Time is money. Time is an extra mortgage payment, utility costs, and may also deter a buyer from choosing your home over a hot new listing priced competitvely. Your real estate broker will know when the home is an exception to this situation. When a listing enters the market at a competitive price(with all things considered-price, location, and condition), you open the door for multiple offers, escalating price, and attractive terms for the seller.

If you’re thinking about selling and need some guidance, contact your broker or give me a call. I’d love to review the selling process with you and help you determine what you can list and sell your home for in today’s real estate market. -Julia

Julia Robertson | Broker licensed in Oregon & Washington

Living Room Realty

541-505-1111 | julia@rebyjulia.com

Julia Robertson

Earth Advantage Broker Licensed in OR & WA

Julia Robertson is first and foremost a passionate Oregonian. She moved to Oregon eleven years ago and genuinely loves showing the city to clients who are considering whether to relocate. Julia constantly explores the city so that she can accurately match clients with a part of Portland Metro or Vancouver that is perfect them. She believes that everyone deserves the chance to own a home in an area or neighborhood that they love. Since a real estate purchase is one of the biggest investments you’ll ever make, Julia works tirelessly with her clients to build a trusting relationship and help them find not just a house, but a home. She has experience working with a broad range of clients to fulfill their diverse and unique needs. Are you selling your home? Purchasing your first condo downtown? Searching for property outside of the city? Looking to buy an investment property? Julia can help you come up with a plan that meets your timeline, your budget  and your needs.  If you’d like to meet for coffee or lunch to discuss potential real estate opportunities, Julia would love to hear from you. When Julia represents a client in the sale or purchase of a home, Julia treats the agency they have like a friendship, going above and beyond to serve her clients. She considers the client’s budget, bottom line, area preferences, and future plans. While Julia doesn’t consider herself a “sales person,” she does have over twenty years of experience in the field of sales and knows how to conduct herself in negotiations and details. Your business is Julia’s top priority, and she always makes herself available. From an early age, Julia loved everything related to homemaking.  Her childhood spent moving from town to town and always having to be “the new kid” gave her the personal confidence to meet new people and boldly operate in the high stakes world of real estate. Julia is a licensed Realtor in Oregon and Washington as a Seller Representative Specialist(SRS) and Earth Advantage-certified broker. She currently serves on the Living Room Realty broker advisory board and attends the Portland B corporation meetings.
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  • T: 541-505-1111
  • F: 503-961-8224
  • julia@livingroomre.com

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