Pricing Your Home

Pricing your home is both an art and a science.

Achieving the optimal price is the result of both objective research into comparable properties and a gut feeling about your property and the current market.

The right price should:

  • Attract buyers
  • Allow you to earn the most money possible
  • Help you sell as quickly as possible

The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. And it’s important to remember that, although the price is set by you, the value of the home is determined by the buyer. Try to avoid allowing your enthusiasm to impact your better judgment – overpricing is a common mistake that can cost you in the end.

The Importance of Proper Pricing

  • Faster sale and less inconvenience
  • Exposure to more buyers
  • Increases Realtors® response
  • Generates more advertising/sign calls
  • Attracts higher offers
  • Means more money to seller
  • Avoids being “shopworn”


What really matters is how your home stacks up against the others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.

Common Reasons for Overpricing

  • Over-improvement
  • Need
  • Purchasing in higher-priced area
  • Original purchase price too high
  • Lack of factual data
  • Bargaining room
  • Move isn’t necessary
  • Assessed value
  • Emotional attachment
  • Opinion of family and neighbors

Dangers of Overpricing

  • Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical.
  • Buyers who have seen most available homes in their price range are waiting for the “right house” to come on the market. That’s why if a house is priced right, it will sell quickly. The buyers are there waiting for it.
  • Don’t start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have alreadywaned.
  • A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.
  • Even if your home is nicer than other homes in the same area, your house won’t be picked for viewing if you set the price too high.
  • Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.
  • Attracting the wrong buyers.
  • Fewer potentially qualified buyers will respond.
  • You might help sell similar homes that are priced low.
  • You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.
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The Role of a Real Estate Agent in Pricing

  • Provide you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMAis performed by comparing previously sold homes in the area, and currently active homes to know your competition.
  • There is no “exact price” for real estate.
  • We don’t tell you what we think your home is “worth”.
  • The market determines value…together we determine the price.
  • You determine the price based on the factors you control:
        – Marketing time
        – Financing alternatives provided
        – Condition
        – Exposure method
  • Keep in touch with market trends and keep up to date with market activity of comparable homes.
  • Estimate your net proceeds.
  • Help to determine offering incentives.
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CONTACT

Carnell Webb

I am a Tulsa, Oklahoma native, but I’ve lived in Dallas for well over 20 years.

I have been in the business since 2013 and am a former Verizon Senior Business Sales Executive, educated in Computer Information Systems.

I’m a full-time real estate agent headquartered in the Aubrey, Texas, area of North Texas, providing service in Denton and surrounding counties – specializing in Residential sales. 

Stacey Booth

Stacey was born and raised near South Padre Island, Texas. She has been married to Bobby Booth for 30 years and has two daughters, Allyson and Amanda. Allyson recently married Konner Miller in February and Amanda will be headed to the University of Arkansas, Fall 2022.

She was an Office Manager for Woolam Gin for 10 years and graduated with a bachelor’s degree in Kinesiology. She taught 2nd grade for 7 years before moving to Mena, Arkansas to open Black Bear Cabin Rentals in 2012. The best part of building a business from the ground up like Black Bear Cabins, was seeing it go from a concept to a thriving business. Her favorite part of the job was making connections with all of her customers.

The reason Stacey got into real estate is because she has always loved helping people and what better way to help people than to find the perfect place to call home. After selling Black Bear Cabins in 2020, she considered doing it then, but still had one of her daughters at home. Since her youngest daughter will be starting college in the fall, she knew this was the perfect time to start her new career. She has always loved the one-on-one personal contacts she has made with people, whether it was with her customers, students, or parents.

Her goal is to work hard for her clients whether it is through the purchase a new home or the sale of a current home. Her number one priority is to provide an experience where the customer feels valued and well taken care of.

Kristen Lewis

I was born and raised in Dallas and have lived in Cedar Hill for 15 years. I have been married to my high school sweetheart for 15 years, and we have 3 beautiful children ages 7, 9 & 11.  

 

I have been in the multi-family industry for 16 years where I’ve had several roles. I started as a construction admin, and then moved to an Assistant Business Manager/ Business Manager Onsite. I am currently a Cost Accountant for all new construction in the Dallas/Fort Worth area. 

 

I am excited to switch gears toward my own business in Real Estate, where I will focus in the Cedar Hill, Midlothian, Waxahachie and surrounding areas. 

 

I just started my journey into Real Estate in November 2021, and I am excited to begin!

Shawna Martinez

Real estate is in my DNA! Second generation Realtor born and raised in North Texas. We know that no two clients are the same, so why work with someone who treats you that way? 

We offer concierge next level customer service. Do you need movers? We can help with that! Do you need your yard maintained? We can take care of that too! Maybe you need accommodations for your fur babies… or real babies…. we understand your needs are unique. 

We pride ourselves in building a relationship over a transaction, so whatever your needs are, we can help! Whether you are buying for your primary residence, second home, or investment property our team of experts will provide you with the most phenomenal customer service! Don’t get trapped in the ‘one size fits all’ Ferris Wheel of real estate. It truly matters who you choose to work with!