Learn to use a combination of data and buyer perception to price your home.
Did you know pricing your home is both a science and an art? When I look at comparable pricing, or comps, for your property, I blend data with creativity to find the best price for your home.
What’s the science behind pricing your home? When pricing a property, I start by analyzing the data. I compare your home to similar ones in size, location, and condition to create a list of comps. We also consider the average dollar per square foot and adjust for homes in better condition.
If I find homes in worse condition, we adjust the price accordingly. This helps us establish a pricing range. For example, I might point out a figure that indicates you’re giving away too much value, as some lesser properties are overpriced. I’ll also determine the high end of your pricing range.
Several factors influence your home’s price: the average dollar per square foot, the difference between the sales price and list price, and how long homes are on the market. This information helps set realistic expectations for selling your home.
What’s the art behind pricing your home? Pricing isn’t just about numbers; there’s an art to it. When we go to the store, we don’t pay $20.05 for something; it’s usually $19.99. It’s about the emotional aspect of pricing and the psychology behind it.
For example, pricing your home at $650,000 or $675,000 puts you in the high $600,000s, while $625,000 or $635,000 places you in the lower range, attracting different buyers.
You, as a seller, play a key role in this process. We won’t just analyze the current market; I’ll provide you with weekly updates on new listings, price changes, and how your home stacks up.
If you’re considering selling your home this spring and want to discuss pricing, now is the perfect time. You can contact me at (503) 522-0090 or sarita@asksarita.com. You can also visit our website, AskSarita.com. I enjoy blending art and science in pricing, and together, we can craft a solid strategy for selling your home.
