How to price it, you ask???

We all know how important it is to price our homes correctly.  I mean, it's important for us as agents to give our customers accurate comparables, but it's also imperative for you as a homeowner to know when to listen to your broker. :)  I recently had a confirmation of how important it is, when I was told that a person from a home valuation field had looked at one of my listings & commented that it was "comp-ing out well".  It made me feel good to hear that.

Before I go any further, for all my KW associates out there, this may be a bit of a repeat of info for you - IF you've read your KW Outfront publication.   A lot of the info I'll be sharing is coming from the Nov/Dec 07 - Vol. 4 No. 6, but some is from me & my own experience. :)

On to my info... Just fresh from the publication referenced earlier, here are the price reduction guidelines from the National Association of Realtors: "If a house has been on the market for more than 45 days, OR if there have been more than eight showings with no acceptable offers, it's time to lower the price."  I don't know about any of you agents out there, but I have a few properties to talk to owners about...

We all want to get the best $$ for our product, but really, the only thing that matters is what the current market is doing.  So as one of my principal brokers frequently says, "It's not what your seller wants for the property, it's what the buyer is willing to pay for it."  Sometimes that can be a bitter pill to swallow, when we're sure that our property "should" bring more than it seems to be, but isn't it better to see the property move, than just stagnate?

So be careful when you're pricing - and remember, your goal - whether you're the agent or homeowner - is to see the property move.  I promise, none of us want our listings to just sit on the market.