How Do I Price My Home to Sell? (Hint: It's Not Based on What You Need to Make.)

Let's talk about everyone's favorite part of selling a home.

The price.

You have a number in your head. Zillow has a number. Your neighbor definitely has an opinion. And your cousin's friend who sold a house three years ago would also like to weigh in.

Unfortunately, buyers don't care about any of those numbers.

Your home is ultimately worth what a buyer is willing to pay for it in the current market.

So, how do we figure out the right price?

It starts with comparable sales.

One of the first things I look at is what similar homes in your area have actually sold for.

Not what they're listed for.

Sold.

There's a very important difference.

I'll look at things like location, square footage, lot size, condition, upgrades, number of bedrooms and bathrooms, and other features that could affect value.

The goal isn't to find a house that looks vaguely similar to yours and call it a comp. It's to understand what buyers have recently been willing to pay for homes that truly compete with yours.

Then we look at your competition.

Sold homes tell us where the market has been.

Active listings tell us what your buyers are looking at right now.

If your home is listed at $600,000 and there are three beautifully updated homes nearby listed at $575,000, we need to know that.

Buyers are comparison shopping.

They may love your house, but they're also looking at everything else their money can buy.

What about Zillow?

We've already established that I don't hate Zillow.

It's a useful tool and a great starting point.

But an algorithm hasn't walked through your home, seen your updates, noticed your view, or compared your property with the homes currently competing for the same buyer.

Your Zestimate is information.

It isn't a pricing strategy.

Should we price high so there's room to negotiate?

This sounds logical.

Sometimes it even works.

But intentionally overpricing a home can also create a much bigger problem.

The first few weeks your home is on the market are incredibly important. That's when buyers and agents are paying the most attention.

If the price is too high, buyers may simply skip it.

Then the home sits.

Eventually, there's a price reduction.

And suddenly buyers start wondering:

"What's wrong with it?"

Sometimes absolutely nothing.

It was just priced incorrectly.

Why days on market matter.

Buyers notice how long a home has been listed.

The longer it sits, the more negotiating power they may feel they have.

That's why I would rather position your home correctly from the beginning than spend the next six weeks chasing the market down with price reductions.

A strategic price can create interest.

Interest creates showings.

Showings create offers.

And multiple interested buyers?

That's when things can get fun.

Does pricing competitively mean pricing low?

No.

This is an important distinction.

I'm not interested in giving your house away just so I can put a SOLD sign in the yard.

The goal is to determine the price that gives your property the strongest position in the current market while protecting your bottom line.

Sometimes that's aggressive.

Sometimes it's conservative.

Sometimes the market tells us we can push a little higher.

There isn't one strategy that works for every house.

What if I need to make a certain amount from the sale?

I absolutely want to know your financial goals before we list.

We'll talk about your mortgage payoff, expected selling expenses, estimated proceeds, and what you hope to walk away with.

But there's an important distinction between what you need from the sale and what the market will support.

Unfortunately, buyers don't increase their offers because we explain that you'd really like enough left over for the new kitchen in your next house.

Rude, I know.

That's why I'll give you realistic numbers before we list so you can make an informed decision about whether selling makes sense.

My advice

Pricing your home shouldn't be a guessing game.

Before I recommend a list price, I'll look at comparable sales, current competition, market conditions, your home's condition and features, and what buyers are actually doing in your area.

Then I'll show you the numbers and explain my reasoning.

You won't just get a price.

You'll understand why we're choosing it.

My goal is to position your home to attract the strongest possible buyer interest while helping you walk away with as much money as possible.

Because the goal isn't to have the highest-priced listing in the neighborhood.

It's to have the one that actually sells.