Milpitas North San Jose Berryessa Real Estate News

3. Don't get "creative" with your asking price

Sometimes, seller want to get creative with their asking price.  I had a seller whose home was valued between $750k and $800k, and they wanted to ask $787,777.

Such an oddly specific figure calls attention to itself for no good reason, like a house painted purple.  Buyers will often wonder why the seller chose that figure.  From there, they get curious about who the seller is, and so on.  In my experience, it's best to keep the seller far in the background, if not entirely invisible.  That's why we have sellers remove all their personal stuff (such as photos, diplomas, and such) from their homes and decorate in neutral colors.  The goal is to showcase the property, not the seller, and to appeal to as wide an audience as possible.  Getting quirky with your asking price counteracts this tried-and-true strategy.

4. Work out a pricing contingency plan before you put your home on the market

Sometimes, sellers have high expectations about their property's appeal and they want to ask top dollar for it, even if their agent doesn't believe they'll get it.  Or perhaps another agent they talked to planted a high price tag in their mind.  Whatever the reason, as a listing agent, I'll agree to try and sell the home at the higher price.  But before the "For Sale" sign goes up, I always try to work out a contingency plan with the seller, in case the property doesn't go for the desired price.  By having everything on the table from the get-go, we'll have a plan B should the first plan fail.  This saves time and helps set the appropriate expectations in the seller's mind, so there are no unpleasant surprises down the road.

5. Pricing is an ongoing discussion

Ultimately, listen carefully to your agent's pricing strategy.  It's their job to know what works and doesn't.  And as with any strategy, be prepared to have an ongoing discussion about pricing with your real estate agent.  Pricing a home isn't a "set-and-forget" procedure.  A lot of factors can come into play when selling or buying a home, and not all of them can be anticipated.  If you can be flexible and react quickly to changing market conditions or new information, you're more likely to get the best price with the least aggravation.