Early in my real estate career I developed a pricing model to create a recommended price range for sellers based on comparable sales, competition and market conditions. On one of my first listings, based on my model, I recommended a range of $260-$280 and predicted the actual market value was ~$279k. The seller decided they wanted to spend as little time on the market as possible and priced their home right at $279k. The house was on the market only 48 hours before receiving two strong, slightly above asking offers. The seller was happy, I was happy and the market did its thing by telling us that we priced slightly low and drove up the price to market value. 

Recently I had a listing and in spite of the pricing model recommendations, the owners felt their home was worth more. They went to market at a price above the top range I recommended. We had a decent amount of showings the first week but then they dried up to nothing. Eventually, and reluctantly, the sellers took multiple price reductions to right about where I predicted and within 72 hours we had two offers to consider. 

Universally, sellers believe their house is the rare gem that’s worth more than market value. I have to admit, I feel the same way. However, the market is always right…and it will be sure to tell you loud and clear when you’re not by not getting showings and offers. So, if you want to sell you house in the shortest time, at the highest value and with the least amount of resistance make sure you work with your local pricing expert… and that’s me!