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PRICING YOUR
HOME

If you're contemplating selling your home, but are unsure about its current market value,
we got you covered.
By supplying some essential information about your property, our tool leverages current market trends to generate an accurate estimate. Let us help you embark on your home selling journey with confidence.

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Gain all the knowledge and get a free Comparative Market Analysis when working with us...

Selling a property can be a complex and challenging process, but with the assistance of a trusted real estate agent, it can be made easier. One of the key tools that a real estate agent can provide is a Comparative Market Analysis (CMA), which takes into account various factors such as current market conditions, recent sales of similar properties in the area, and unique features of the property to determine an optimal price point. By leveraging a CMA, property owners can price their homes competitively, attract potential buyers, and increase their chances a successful sale while maximizing their profits. We encourage you to reach out to a real estate agent today to learn more about how a CMA can benefit you.

REVIEW COMPARABLES

A seller can review comparables by researching recent sales of similar properties in the same area. They can look at the sale price, square footage, number of bedrooms and bathrooms, and other features to determine a fair market value for their property. It's important to consider both active and sold listings to get a complete picture of the market.

DON'T LET YOUR
ASKING PRICE
LUMP YOUR COMPETITION

Ever heard of price banding? It’s the practice of looking over current inventory in your neighborhood and finding a less crowded price point. Prices tend to get bunched up as sellers try to price their homes competitively. For example, if there are four homes in your neighborhood priced between $274,000 and $276,000, and the next set of homes start at $290,000 and up, you should take advantage of the wide open $280,000 price band.

AVOID OBSCURE 
AND CENTURY PRICING

Whether at the grocery store or in a home sale, there’s a proven psychology that items priced just under a “century” number (meaning a nice, round number) are more attractive to buyers — think $9.95 instead of $10, $19.99 instead of $20, and so on. For whatever reason, your $299,999 home might seem more approachable than if it were priced at $300,000. However, pricing a house at a random and obscure number (like $123,456) is distracting to buyers and gives a bad impression of you, the seller.

GET A SECOND 
(EXPERT) OPINION

When it comes to selling your home, pricing it correctly is crucial. While you may have an idea of what your home is worth, it's always a good idea to get second opinion from a real estate agent. They have the expertise and knowledge of the local market to help you set a realistic price that will attract potential buyers. By working with an agent, you can ensure that you're not leaving money on the table or pricing your home too high, which can lead to it sitting on the market for too long.

DON'T HESITATE
TO CUT PRICE AFTER LISTING

Even with the best research, sometimes you’ll come to the conclusion that you’ve listed too high. Luckily, it’s not unusual to see price cuts. In fact, according to the Zillow Group Consumer Housing Trends Report, 64 percent of sellers lower their price at least once. The key is to recognize quickly that you’ve overpriced, and make an accurate adjustment. Avoid the temptation of making a few little pricing tweaks over time. Older listings simply aren’t as attractive to buyers, and your goal is to sell quickly. It’s always better to make one big price correction up front.

Get a free Comparative Market Analysis when you work with The Jones Collective... 

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HOW DO I PRICE MY HOME IN THE CURRENT HOUSING MARKET?

  • Seasonality: In the majority of the country, spring is considered the best time to sell a home — the weather is improving and families want to move during the summer break from school. Fall is considered second-best, as most people are back in town from summer vacations. Winter is the slowest season, not only because of bad weather, but because people are busy with the holiday season. Of course, the very best time to sell varies a bit city by city.

  • Inventory: In Economics 101, we were taught the basics of supply and demand, and it definitely applies to real estate. If your home is one of 20 for sale in your neighborhood, you’ll have a hard time getting the price you want, since supply outweighs demand. But, if it’s a hot market and you’re one of just a few homes available in your area, you may be able to get your asking price, or even higher.

    • Buyer’s market: In a buyer’s market, you need to be priced slightly lower than the competition, because there are more homes for sale than there are buyers in the market.

    • Seller’s market: In a seller’s market, you can add about 10 percent to a comparable sale, since inventory is limited and buyers are competing for fewer homes.  

    • Neutral market: In a neutral real estate market, there’s an even balance between the number of buyers and the number of homes for sale. In this market, you’ll want to keep an eye on nearby comparables to make sure your pricing is similar.

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