The truth about pricing homes the right way in this housing market.
By now, you’ve probably noticed that our housing market is shifting. Prices and interest rates are fluctuating, so how can you find the right price for your clients’ properties?
When the cost of borrowing money increases rapidly, buyers and sellers become uncertain about how to price their properties or make offers on them. As real estate agents, it’s our job to advise and educate them on this process, especially when comparable sales data is hard to find. To help you with this, I’m sharing two tips that will let you confidently price properties in a shifting market.
“Offer a range of prices to your clients.”
First, don’t just rely on sold properties. Look at actively listed properties to see what your clients are competing with. This gives you a real-time look at the market environment and helps you price properties accordingly.
Second, be cautious about making definitive statements on pricing. Instead of giving a single price, offer a range based on comparable sales and active listings. Then, help your clients understand the pros and cons of different pricing strategies and let them make the final decision based on their motivation and goals.
If you want more information on how to survive a shifting market, we offer daily training sessions on topics like this. Just email us at dave@davehooketeam.com or call us at (717) 216-0860, and we’ll schedule a quick conversation to get you started.
Also, make sure to follow us on Facebook at Facebook.com/DaveHookeTeam. We look forward to speaking with you soon!
