Seattle Real Estate: How Do YOU Come up with an Asking Price in this Market?
Pricing your new Listing in today’s Seattle Real Estate Market? Frantically trying to find comps or justify your asking price based on what the house across the street sold for 6 months ago? As a Professional Real Estate Broker or Agent, how are you pricing your listings in this market? I’m writing this post after having a conversation with a prospective Seller yesterday and we got to talking…well, joking actually, that almost every home for sale they drive by has a “JUST REDUCED” or “NEW PRICE” sign stapled to the yard arm. They wanted to know why that was…and I felt little humor in their request! I did my best to explain the declining market and the current shape of the economy but then I got to thinking, “Why didn’t they ask about the fair number of for sale signs with a “SOLD STRIP”.
So what do you tell your perspective new seller clients when you look them squarely in the eye and tell them what their house is going on the market for? Is there a conversation about them lowering their price in 30 days if it doesn’t get an offer? Are you prepared to explain why your pricing method did not get them an offer? Or is it just so common anymore to ask for that price reduction that no one even blinks an eye? I’m curious only because I didn’t really have an answer for these folks and all joking aside, their question was what a lot of folks are thinking! I strongly encourage your comments!
Photo courtesy of autiscy
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March 10th, 2010 at 10:09 am
[...] WA Seattle Real Estate: How Do YOU Come up with an Asking Price in this Market? Pricing your new Listing? Frantically trying to find comps or justify your asking price based on [...]
March 10th, 2010 at 5:29 pm
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March 12th, 2010 at 8:44 am
Hey Latisha-Thanks for the nice words. I would suggest the first thing you do if you are looking to buy a home that is a Short Sale is make sure the lender (lien holder for the seller) is not Wells Fargo!!! What a mess! In my 13 years as a Real Estate Professional, this is by far the worst example of corporate greed I’ve ever seen!
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