Quick Takeaways

  • Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals
  • The highest offer is not always the best offer – consider cash options and contingencies that could work in your favor
  • Hire a REALTOR® to help you navigate this once in a lifetime seller’s market

Source: 7 Tips and Tricks to Capitalize on Selling in a Seller’s Market (HomeLight, Apr. 29, 2021)

According to the 2020 Profile of Home Buyers and Sellers, pricing a home competitively is one of the top three reasons why sellers hire REALTORS®.

Pricing a home fairly and competitively requires both evergreen knowledge and a finger on the pulse of market trends. The COVID-19 pandemic has created an unprecedented seller’s market, and some homeowners are pricing their homes at “ridiculous” prices to see if they can get one high enough to convince them to move.

REALTORS® can be an invaluable resource to their clients as they prepare to place their home on the market and determine the asking price. Sellers are looking to you for advice, tools, tips, and tricks from basics like calculating their home price to whether or not they should consider a backup offer.

See References for more information.

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