5,104,931
My strategy is determined property by property, market conditions in the specific neighborhood, and a client's motivation/need to sell sooner rather than later.
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Michael Jacobs
Pasadena, CA
-
Inna Ivchenko
Encino, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Debbie Gartner
White Plains, NY
5,583,278
we find the fair market "range" of the home, and list at the upper end of that range....
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Inna Ivchenko
Encino, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Lyn Sims
Schaumburg, IL
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
2,220,654
Depends on the property, location, and condition of the inside of the home.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,231,853
Ditto Nina Hollander
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Sandy Padula & Norm Pa...
, CA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
5,230,148
Like Barbara Todaro, I show the sellers the range and the top of that range is where we list 9 times out of 10. Some will think that listing low-to-mid range will bring in more Offers and wind up at a higher sales price than our high end of the range. However, that doesn't always work if the house isn't in top condition in a hot community.
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Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Lyn Sims
Schaumburg, IL
-
Barbara Todaro
Franklin, MA
1,726,096
It always depends on the needs of my sellers, condition of the home, location, and their timeframe
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Tony and Suzanne Marri...
Scottsdale, AZ
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
191,939
Better to list lower than higher! I don't think I would ever advocate for an "always" philosophy though. Depends on many different factors, mostly the intricacies of the very immediate market. Also depends on timing and it's important to price appropriately for price brackets defined by major search portals.
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Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
4,572,520
It depends.
On the particular property.
On the market.
On the seller.
I try to refrain from words like "always". Or "never".
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Sandy Padula & Norm Pa...
, CA
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
1,622,432
It is always a range. I just discussed it with a seller. There are consequences for going with low or high end of it. I try to list in the middle, but if on high end, we have a price reduction schedule in place( since all sellers now here from every corner: inventory is low! sellers' market! etc. )
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Sandy Padula & Norm Pa...
, CA
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
5,049,477
It depends on the property, the local market, and the seller. But in general I like to see the home listed in the middle to high end of the market range, unless other issues, like conditions and location, suggest otherwise
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Sandy Padula & Norm Pa...
, CA
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
6,393,609
Show them the comps, let them decide how serious they are about selling.
If not serious then walk away.
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Bob "RealMan" Timm
Minot, ND
-
Bob Crane
Stevens Point, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
1,844,301
Price it tight. No wiggle room stuff.
I go above last comps slightly. Our market is on the rise & I'm taking advantage of that. Would not ever do 10% below unless it's on a rehab disaster. Our job is to get the seller the most amount of $$.
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Michael Jacobs
Pasadena, CA
-
Alan May
Evanston, IL
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
716,049
Hi Kathleen. I run a business, I price at market value and I price to sell. I have a business to run. I do an RPA.
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
4,936,716
Great question, I try to be within a couple thousand of the comps.
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Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
1,712,676
It depends upon the absorption rate. I may be able to set new highs with a 1 month, or go 7% below median listing price if it is 12 months.
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Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Lyn Sims
Schaumburg, IL
-
Kathleen Daniels, Prob...
San Jose, CA
5,217,381
It depends on the seller's reason for selling, the condition of the home and the state of the market. I tend to list at the high end of existing comps adjusted for the foregoing!
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Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
5,005,659
I'm with Debe Maxwell, CRS comments as long as the property is in top condition..if not the expectation of list price must be lower.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,543,873
I price it right. They sell for "over or at" when you price them right...and both are acceptable to the sellers.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Michael Jacobs
Pasadena, CA
544,014
At the high end of the market value range if the house can compete on curb appeal, amenities, floor plan and lot location. If the house does not have the wow factor, list in the middle range but prepare the sellers for possibility of low range of market value. Back it up with detailed comps supporting the critical nuances that may not be apparent to the seller.
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
921,504
I price in accordance to what is justifiable.
IN some cases, I know it will not appraise so I advise the owner what strategies will work best.
The outline is community value, market condition and tangible assets.
Better still I let the owner calculate the value themselves. They rarely argue with them-self.
Of course establishing expectation and measuring response is crucial.
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
3,986,258
I like the seller to set the price and then tell them what I feel. Takes the monkey off my back when the sale doen't happen as fast as they thought it should
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
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Michael Jacobs
Pasadena, CA
2,062,265
Our area is still hot, hot, hot.
I like to price at, or slightly higher, than the market comps. Properties in my area, that are priced reasonably, are selling. No reason to price 5 or 10 percent below market value to attract multiple offers... when properly priced homes are doing that already.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
3,988,007
In our hot market I am recommending at the top of the range keeping in mind we still have to meet appraised value. So far so good.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
2,390,670
I always start with the City assessors value and then I do a map search in our MLS of homes sold with-in a quarter mile of the subject in the last 12 months. When I go to the listing I ask what they think and then I either bring them around to reality or congratulate them on their wisdom.
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Sandy Padula & Norm Pa...
, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
763,883
I like to list slightly above the expected sales price but not so high that agents won't show the home. Know the true market value is the key.
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Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
2,817,671
As a non real estate agent, listening to all the agents discuss this, I would prob. aim towards pricing just below or perhaps 5% below in the hope/expectation that it would drive prices up. But, I would test this theory to see if it were actually true before using it as general mode.
Then before choosing/recommending a particular price, I would want to understand what's most important to my client and how important/unimportant timing is. I'd rather be a bit lower than higher as too high can actually lengthen time on market and drive price down, so that would actually go against fiduciary duty.
10% below sounds like this may be too low, but that's my gut. Seems like 5% would be more likely to drive up the price and result in highest return for a client. But, I may be wrong.
If I were an agent, I'd probably be awesome at doing a CMA and knowing the data. I might stink at everything else, but this would be an area of strength for me given my analytical skills and past experience with market analysis in other categories.
So given what I've heard, I'm more inclined to go 5% below to just below...or just above in some cases.
10% below here would be $65,000 on an average house...that's a lot below. In some neighborhoods, it would easily be $100,000. With those sort of differences, it seem that you are giving the house away a bit and doing your client a real disservice (unless speed was of the essence). 5% to just below sounds more strategic to drive the bidding war.
But then again, what do I know?
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Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
7,836,431
Thanks for sharing your listing strategy.
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Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
-
Kathleen Daniels, Prob...
San Jose, CA
2,182,552
To be "King of the Hill" at THAT Price Point !!!
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
4,800,082
It depends on the local market and the sales price ratio for the past few months.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
3,071,489
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 nailed this one!
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Sandy Padula & Norm Pa...
, CA
-
Kathleen Daniels, Prob...
San Jose, CA
911,448
Not too high and not too low. Depends on sellers needs and desires.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
4,319,419
Kathleen Daniels - 10% below is NOT something that I'd like to do.
Just below market value is fine.
(Though who knows the market value of a product before it is sold?)
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
900,278
I propose a comfortable range; my preference would be to go below, which is what I recommend as that brings more traffic/offers, but sellers don't always "get it".
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
3,416,038
I like to be just below the market value but some sellers are mandating listing higher or choosing another agent that will.
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
2,781,303
A tad below market...never fails. Hitting the ground running works!
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Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
2,684,109
Priced to yield the highest possible net for the Seller.
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
3,587,960
Depends on the neighborhood and how it's trending up or down the last 3 months. Sometimes we price just a tad above and at times we've pushed it pretty far and got full price offers on 2 - certain neighborhood was moving up fast. Needless to say both sellers very happy with extra 30 to 40 K in their pocket.
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Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
1,153,794
The strategy currently in use is based on being the #1 Contender and the next home to sell in any particular neighborhood.
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Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
1,617,916
one that sells a home
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Bob "RealMan" Timm
Minot, ND
-
Mary Yonkers
Erie, PA
352,976
Understanding the market and knowing the inventory is first. Being able to compare each property for its own merits (condition and location) and pricing accordingly. Pricing backed by SOLD (most value) and pending sales have most merit.
Homes priced correctly sell for the maximum price in our market.
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Bob "RealMan" Timm
Minot, ND
44,891
Right now, price is below retail and expect a bidding war!
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Kathleen Daniels, Prob...
San Jose, CA
4,434,127
1,503,028
Do my darndest to get it right! Try to price the house for the max it can get, unless directed otherwise by the client (ex: fast sale).
1,466,207
Kathleen Daniels A well written CMA with proper adjustment will determine market value. I usually recommend pricing from the medium value to the top of the CMA based on condition, time on market, etc.
989,652
For me it depends on the seller, their expectations and tine frame etc.
Normally however, I do as you - slightly below the comps or lowest priced unit