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Hi, this is Gina Mullen with Gina Mullen Realty and I'm here to answer all your questions regarding real estate and give you some tips and tricks. Today we're going to talk about pricing your home to sell. This is a great time of year to talk about this. It's the busy time and we're getting ready for a lot of houses to hit the market and one of the things that sellers want to know when you come in for a listing appointment is \\u201cWhat are we going to sell the house for?\\u201d That depends on a lot of different things and that depends, you know, luxury homes are comped very differently than non-luxury homes, but regardless of the price level of the home, we want to make sure that we get the price right when we first go out. 

If we don't get the price right, then we end up doing something that's called chasing the market. We do not want to chase the market. That means that we've gone out too high, especially if we just want to see what happens if we put it out there at this price. Then as we reduce the price of the home, the value of the home decreases because it's been sitting on the market longer and longer. So by the time you get down to the price you should have started off at, the home has lost value because it has sat on the market now for quite some time. And once it sits on the market, buyers look at the house very differently. They don't see the house to be worth what the listing price is, the asking price, they feel maybe there's something wrong with the home. They come to the home with a completely different attitude than if a house is fresh. A house gets most of its attention the first two weeks on the market.

So a lot of times when I come in, if what my recommendation is, based on what the market is telling me a home is worth, sellers might have a different price in mind. And sometimes it's not something that they want to hear. But if I'm telling you something that makes you uncomfortable, you know that I'm telling you the truth. I'm not telling you what you just want to hear. I want to make sure that you go out at the right price so that we have as successful a real estate transaction as possible. If we go out at the right price, then we will see a lot of traffic during this first two weeks and hopefully we'll get you under contract during those first two weeks If we don't get the price right where we stick a price out there just to see what happens or see if anyone bites, a lot of times we end up doing ourselves and the property disservice because we tend to sit on the market longer.

When I do a listing appointment, I come in with hard numbers. I show you what the other houses look like in comparison to yours. Houses that sold at this price point look like this, houses that sold at this price point look like that, and we figure out where in that range that you want to fall. And if we're priced well, then more than likely we will get a contract on the property in the amount of time that we should. So when you're thinking about what you want to price your house to sell, take into consideration what a realtor is telling you or the comps that they're bringing to the table. And realtor should never tell you what to price a home without showing you what the market is saying that your home is worth. And when the market tells you what your home is worth, and you listen to the market and you price it well, then it usually ends up being a successful real estate transaction for all.