This article is sponsored by MLSListings, a full spectrum MLS service organization that provides industry leading MLS services and technology to real estate professionals in California. Learn more at mlslistings.com.
Pricing a home to sell is like balancing a scale: go too low and you walk away feeling cheated, yet pricing it too high can create disappointment when offers don’t come in, or when a sale falls through. Getting the price right requires a lot of information, experience in the real estate selling transaction and an understanding of the seller’s motivations.
Unfortunately, sellers often attempt to price their home themselves using public tools like Zestimate and by talking to their friends and neighbors about what they think their home is worth. They also consider what they have invested in their home in upgrades and renovations that they feel enhance the worth of the home. Sadly, none of these things will guarantee an accurate price and will often result in wasted time and frustration when they attempt to sell their home.
Third-party sites like Zillow and Trulia have been challenged for misleading information and tools, and these public sites do not have the data accuracy that multiple listing services do. Professional agents have access to accurate property data, a deep understanding of the markets in which they work, knowledge about specific homes and their values, and experience in evaluating the worth of home improvements and the impact they have on pricing.
Pricing a home correctly also impacts the ability to complete the transaction. If a buyer can’t secure a loan because the home is over- or under-valued, the seller loses out on the sale and has to reassess the price. Save time and frustration by talking to a professional and get the price right.