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

Price is the number one factor that most home buyers use to determine which homes they want to view. 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 a Proper Listing Price

  • Faster sale and less inconvenience
  • Exposure to more buyers
  • Increases Realtors® response
  • Generates more advertising/sign calls
  • Attracts higher offers
  • Means more money to the 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
  • Purchasing in a higher-priced area
  • Original purchase price too high
  • Lack of factual data
  • Bargaining room
  • The 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 already waned.
  • 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.

The Role of Your 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 CMA is 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 the market activity of comparable homes.
  • Estimate your net proceeds.
  • Help to determine offering incentives.

An agent has NO control over the market, only the marketing plan. Never select an agent based on price.

Home Seller Testimonials
Cassie Spears and her team are nothing but the best when it comes to selling and buying a home! She has always been patient, responsive and honestly made the process of buying and selling as seamless as possible. We will never use or recommend anyone but the Spears team. Cassie truly cares about her clients! She even does fun- family friendly care packages, fun giveaways and posts great information about local businesses on her Facebook page!
Taylor Norrell
We've partnered with Cassie over the last 6 months in buying and selling our homes. The market is serious right now and very fast paced. She made this process as painless as possible for us. Will definitely use her again on future home purchases and highly recommend her for your next purchase!
Phillip Green
We received the very best service you could ever expect. Thanks to Cassie and her team. Thank you very much,

Sam and Susan
Sam & Susan Jenke
SOLD!! The same day the home was listed. Over asking price!. Cassie makes selling easy! She is the BEST!!
Terri Donnelly
I’ve personally used Cassie Spears as my real estate agent to sell 2 houses, as well as to buy 3 houses. She is the VERY BEST at what she does! Always professional, always listens, always patient (the list could go on and on). I know there are a lot of options to choose from in the area, but in my opinion, Cassie is the best/only choice!
Jeff Turner
The Spears Team is excellent!! Cassie and Tim did a GREAT job selling my place and it was probably one of the most challenging ones ever!! Cassie was very patient and professional! I don’t think anyone else would have worked so hard to get this done. if you need a super realtor call, Cassie! THANK YOU so much!!
Debbie Highfill
Best real estate broker ever! I had her come to the house and walk through to get her opinion on what needed to be done to get the most out of selling my house. She was honest and kept me from doing work and spending money on my house for things that did not need to be done; and she gave me some pointers on other things I could do to help sell the house. I stuck to the plan we made and her suggested timeline to list the house. We had 50+ showings in 3 days and about 15 offers all over listing price. She made understanding the offers and all their parts easy. Cassie also has a great team working with her and a great relationship with many entities in the community. I have sold houses in three states, and this is the best experience selling a house I have ever had. I recommend her to anyone buying or selling a house.
K vB
Cassie, Tim, and Taylor are the best people and realtors I have ever dealt with! Cassie listed my house at an amazing price and the pictures were awesome! The first day of showing my house sold above the amazing listing price. Even when stumbling blocks arose she was diligent to get it resolved quickly! You can't go wrong if Cassie, Tim, and their team are your realtors! They are the best!!
Mary Sheldon