Margaret Rome's Blog

head_left_image

The Price is Right The Rome Way

 

 Part 2 of Tony & Suzanne Marriott's September Challenge

 

Pricing is one of the most important steps in getting a property sold.

If you are selling cookie cutter homes, in a development, just do the comps. A good CMA will tell the story of the correct price.

 

Frequently callers ask at what price I would list their home. 

  I won't  give a list price without seeing the house.

The information I can share is what the house is assessed for, what other homes are active, what prices the homes in the area have sold for, how long similar homes are taking to sell and what homes have been withdrawn, expired or not sold. 

 

Any home that is priced low enough will sell!

  

But what about the unique homes, the one of a kind, the ones that have

no, none, nada comps?

What about the home on the railroad tracks, the 2 bedroom 5 bath home on the beltway, the historic church with cemetery, the contemporary former ostrich farm?  These are homes I sell.

The pricing strategy is not the same when there is no comparable property.

 

 As a listing agent there are different ways to arrive at the asking price. Sometimes sellers are adamant at what that price needs to be. Other times they will take our professional advice based on our market analysis and  expertise.

When an owner is set on a specific number that may not be in line with reality...I try a little different approach.

 

Try letting the seller choose the price.

 

 Featured Image

 

The discussion has to begin somewhere...the price cannot be pulled from the air.

Be very careful when you hear these words

"I HAVE to get X amount in my pocket!"

 

Time to ask the important question.

 WHAT is owed on the home including...current mortgage, home equity loans, liens, funds borrowed from family and other obligatory expenses. Add them up.

Figure in closing costs and commissions. Then find out what they want and what they need to walk away with.

Sometimes sellers can NOT afford to sell.

 

When would you like to discuss pricing your home

The Rome Way? 

 

Margaret Rome 410-530-2400

 

 

 Search All Active Listings

 

Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

signature

 

 

Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 
Comment balloon 6 commentsMargaret Rome Baltimore 410-530-2400 • September 06 2017 10:32AM

Comments

Good morning Margaret. Sometimes sellers cannot afford to sell is so true! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) over 2 years ago

You make an excellent point about "cookie cutter" home evaluating in comparison to the more unique properties, Margaret.  My first years in real estate were relatively easy because I listed and sold homes in a community loaded with subdivisions.  If you told me the street, I knew the builder, and if I had the square feet, I knew the floor plan.  But, as time passed and I began listing and selling outside the community where more custom and unique homes existed, it wasn't quite as simple.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 2 years ago

Wayne Martin There are times that a seller cannot afford to sell. We all need to know that up front.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) over 2 years ago

Myrl Jeffcoat You understand that the tract homes are different in pricing and  selling than the more unique properties.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) over 2 years ago

Margaret Rome, Baltimore Maryland "Frequently callers ask at what price I would list their home.  I won't  give a list price without seeing the house."

Right on target - and - re-blog!

Posted by Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area) over 2 years ago

Thank you Tony and Suzanne Marriott, Associate Brokers for the ' right on target' and re-blog

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) over 2 years ago

Participate