What price would they sell their home to attract the most Buyers, they had wondered. Olivia and Jacob had discussed what they thought they should sell their home for and also discussed it with Jacob’s mother, along with looking at values on Zillow, so they thought they pretty much knew at what price they would list their home. They were anxious to hear from the Realtors in regards to their recommended selling price.
There seemed to be a few options for pricing their home after speaking with the different Realtors. A few of the Realtors agreed with them on their price, one was a quite a bit lower and the Realtor they selected was just below what they had thought they should sell their home for to get it sold. The Realtor who wanted to price the home just a bit below what Olivia and Jacob had thought, presented her reasoning well regarding her pricing strategy by reviewing recently closed sales in the area of their home, homes that were currently pending/under contract and those that were active for sale. She showed them through these comparisons what the fair market value of their home would be based upon their home’s condition, updates, special features, size and location. It was also explained to them on how important it is to price their home right, the minute it is listed for sale in order to attract the most qualified Buyers to their home during those first few weeks when a new home listing gets all the buzz. She explained how they can really miss the boat, so to speak, when they price the home too high to begin with, as the Buyers that are really qualified to buy their home won’t even see it because their home had been priced too high, so they’ll be looking at their home’s competition who are priced correctly. Bigger Equity! She understood the attachment that Olivia and Jacob might have to their home with all of the memories, but gently reminded them that it’s the home’s specific features that prospective Buyers will be reviewing and considering.
She also mentioned the mistakes that so many homeowners make when they take Zillow’s Zestimates as gospel and even showed examples of actual homes sold in Coral Springs and how the Zestimates were off from the final sales price. They didn’t even realize either that Zillow even mentions on their site that their values aren’t set in stone, yet that mention seems to be covered up where one has to really dig in to try and find it. By the way, the Realtors that easily agreed with them on their list price, they came to find out, were simply trying to “buy their listing” – talk about a complete lack of integrity!