Pricing your home

When we help our clients set a list price, we prefer it to be a group exercise with all of us sitting around a table and sharing in the process.

We start by taking a look at local market conditions (for example, months of inventory by location and months of inventory by price range). Then we review a list of comparable listings in the area. The list includes recent sales, current listings with accepted offers, and current listings without offers. Together we review each of the listings in detail and then place each listing into one of two categories - "a strong match" or "not a strong match". By the time we've completed this review all of us at the table understand which listings provide the best comparisons for setting a price.

Upon meeting new sellers, most want us to tell them right away what we feel their home is worth. And most are surprised when we respond by saying we prefer to use a group approach.

We've learned our clients respond very positively to this approach. It establishes a sense of teamwork, and it enhances everyone's understanding of the neighborhood market.

Have a good day,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com