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Top 5 Things Sellers Most Want from Real Estate Agents
- Help price home competitively
- Help seller market home to potential buyers
- Help sell the home within specific timeframe
- Help find a buyer for home
- Help seller find ways to fix up home to sell it for more
Source: 2022 National Association of Realtors Profile of Home Buyers and Sellers
The top reason sellers hire REALTORS® has to do with competitive pricing. Determining the asking price of your home is a huge step in your home selling process, and your local REALTOR® can help!
Determining the Asking Price: The Basics & Trends
Suddenly, the Housing Market Is Not All About the Sellers (Nerdwallet, Aug. 18, 2022)
"I tell my sellers that it’s OK to go with their 'reach price' but to be prepared to react to market feedback if the home is not selling. A price reduction often attracts a new set of buyers and can get those who are already considering the home at the original price to take action."
Maximize Seller Profits When the Market Favors Buyers (National Association of REALTORS®, Aug. 8, 2022)
“Even though high inflation and rising interest rates are beginning to dampen homebuyer demand, we’re still in a seller’s market. There still isn’t enough inventory to meet the demand that’s out there, so your sellers continue to have some advantages in the market.”
Home Sellers Are Lowering Their Prices at the Fastest Clip Since 2019 (CNBC, May 27, 2022)
“Nearly one in five home sellers dropped their price during the four-week period ending May 22 — the highest rate since 2019.
“Sellers are still asking for a lot of money: The median asking price for a home climbed to a record-setting $418,000, up 17.8% year over year.”
‘Make Me Move’: Sellers are Listing Their Homes at Ridiculous Prices Just to See What Happens (Money, Mar. 17, 2022)
Aspirational pricing is risky, and can certainly backfire, but this couple priced their home $30,000 above their agent’s suggestion and ended up selling in less than a week!
4 Essential Steps to Determine a Home’s Value
Opendoor provides four essential steps for sellers hoping to determine their homes value. Start with online tools, consult a REALTOR®, hire a professional appraiser, and research the size, price history, and features of your own home.
Accurate Property Pricing with RPR (REALTOR® Property Resource)
“Here, RPR shares five tools that will help an agent refine the value of a property, use the platform’s flexible CMA tool, create a Sales Comparative Analysis and Valuation Workbook for harder-to-price properties, and run a real-time analysis for investment properties.”
Advice for Your Customers
How to Price Your Home for Sale (The Balance, Mar. 7, 2022)
When pricing your home, it’s easy to forget or overlook small details like neighborhood boundaries, which side of the street your home is on, and if it is close to train tracks or a highway. According the The Balance, “Identical homes directly across the street from each other can vary by as much as $100,000 in some neighborhoods. Perceptions of desirability have value.”
What Homebuyers Can Expect with an Appraisal — and What to Do If It's Below Your Offer Price (Freddie Mac, Feb. 3, 2022)
A Wild Market Means More Home Appraisals are Coming in Low. Here’s What to Do if a Bad Appraisal Threatens Your Deal
- If you find errors, request a new appraisal
- Renegotiate the sale price
- Find additional funds
- Continue with your search
, Aug. 12, 2020)
“According to the National Association of Realtors, 9% of contract terminations were caused by appraisal issues in June, up from 3% in April. In both months, problems with the appraisal caused 18% of closing delays, trailing only challenges obtaining financing.”
Home Price Calculators
Are You an Owner? Track Your Home (realtor.com®)
HPI Calculator (Federal Housing Finance Agency)
What's Your Home Worth? (Bank of America)
Home Value Estimator (Chase)
eBooks & Other Resources
The Complete Idiot's Guide to Selling Your Home (eBook)
The Future of Real Estate Home Pricing (eBook)
How to Sell Your Home in Any Market (eBook)
Sell Your Home Now (eBook)
Selling Your Home in 45 Days or Less (eBook)
Seven Steps to Sold (eBook)
Tips & Traps When Selling a Home (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Think Sold!: Creating Home Sales in Any Market (Washington, D.C.: BuilderBooks, 2009) HD1379 .L96 2009
NAR® Guide to Home Selling: Insider Tips for Home Selling Made Easy (Hoboken, NJ: John Wiley & Sons, Inc., 2007) HD 1375 N21n
Pricing Your Home to Sell — DVD, Item # 141-177
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