Determining Asking Price

Overview

Today’s buyers are looking for competitively-priced homes in their price range.  Determining the asking price for a home is extremely important, because this could cause you to lose thousands of dollars or result in not making a sale at all.  Listing a home too high could result in the home sitting on the market and becoming stale.  Listing a home too low could result in loss of revenue.  That is why we recommend using the services of a REALTOR® to help determine the asking price of a home so that it can be competitively listed and sold in the marketplace.

References

We've already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.


Top 5 Things Sellers Most Want From Real Estate Agents

  1. Help Seller Market the Home to Potential Buyers
  2. Help Sell the Home Within a Specific Time Frame
  3. Help Price the Home Competitively
  4. Help Find a Buyer for the Home
  5. Help Seller Find Ways to Fix Up the Home to Sell it for More

Top 5 Factors for Choosing a Real Estate Agent to a Sell Home

  1. Reputation of Agent
  2. Agent is Honest and Trustworthy
  3. Agent is a Friend or Family Member
  4. Agent’s Knowledge of the Neighborhood
  5. Agent’s Commission

Source:  2017 National Association of Realtors Profile of Home Buyers and Sellers, Digital Download, Item E-186-45-17

Determining the Correct Asking Price

Left digit in sale price affects home buyers most, (Builder, Aug., 2016)

How Much is My House Worth?  How to Price a House to Sell Like Hotcakes!, (realtor.com, Jan. 20, 2016)

How to Accurately Price Your Home for the Local Market, (Fortune, Feb. 24, 2015)

How do I know what Price to use as my asking price?, (ActiveRain, Jan. 26, 2015)

A Guide for Pricing Your Home to Sell, (realtor.com, Jan. 2, 2014)

Advice for Your Customers

Get a Reality Check on Your Home Before You Put it on the Market, (realtor.com, June 29, 2018)

Should You Take Your Home Off of the Market? 6 Signs its Time, (realtor.com, June 20, 2018)

These Little Flaws in Your Home are a Big Deal to Buyers, (realtor.com, June 8, 2018)

The Worst Home Selling Advice People Actually Believe, (realtor.com, Dec. 6, 2017)

5 signs it’s time for a client to lower his asking price, (Homeside, Sept. 6, 2016)

When to cave: how long should you wait before lowering your asking price?, (realtor.com®, Jan. 5, 2016)

Selling your home? Set the right price, (Kiplinger, Jan. 2015)

Pricing Product

Pricing your home to sell — DVD from the National Association of REALTORS®, Item # 141-177

Home Price Calculators

Are You an Owner? Track Your Home (realtor.com)

Home Affordability Calculator (realtor.com)

Home Affordability Calculator (cnn.com)

HPI Calculator, (Federal Housing Finance Agency, n.d.)

eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

The Complete Idiot's Guide to Selling Your Home, (ebook)

How to sell your home in any market, (eBook)

Sell your home in 45 days or less, (Audiobook, eBook)

Tips & traps when selling a home, (Kindle, Audiobook, eBook)

Books, Videos, Research Reports & More

The resources below are available for loan through Member Support. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Member Support at 800-874-6500 for assistance.

NAR® Guide to Home Selling: Insider Tips for Home Selling Made Easy, (Hoboken, NJ:  John Wiley & Sons, Inc., 2007) HD 1375 N21n


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The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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