Comping a home isn’t easy work—it’s a mix of data analysis, market insight, and a bit of art. As real estate agents, we use multiple platforms and tools to arrive at the “right” price for your home, and the numbers don’t lie. I understand you want to get the most money possible for your home—if my husband and I were selling our own, we’d feel the same. But it’s important to be realistic about pricing.
- What happens when a home is overpriced? Unfortunately, nothing. No showings, no offers—just crickets. Pricing a home is a delicate balance, and it’s not as simple as checking Zillow. When I comp out a home, I’m looking at similar properties that have sold in the past six months in your area, but there’s more to it than just the numbers.
- Consider this: if a buyer needs financing, the home will have to appraise at or above the sale price. The last thing we want is for the appraisal to come in low and derail the sale. That’s why pricing correctly from the start is crucial. I’m not in the business of taking overpriced listings because that does you and your home a disservice—and I don’t make promises I can’t keep.
- If you price your home 10-15% above market value, expect silence. Price it at market value, and you’ll see showings and offers. Price it below market value, and you could spark a bidding war. So when a home sells quickly and a seller wonders if we underpriced it, the truth is, we probably priced it just right.
