How Can You Find the Best Price To List Your Seller’s Home?

By Terry Trexler

Hi I’m Terry Trexler and I’ve built a top-selling real estate team that covers 12 states and growing. I just moved to LPT Realty after being with another brokerage for years. The splits are better, the revenue share is better, and it’s honestly the perfect business model now that we can build on the existing success of proven cloud brokerage models. I invite you to check out LPT Realty. Move your license over to us. We’re a brokerage focused on listings and profitability.

Depending on which part of the country you’re working in right now, the housing market could look completely different. Some areas are experiencing significant price corrections, while demand is still sky-high in others. Even on a local level, one neighborhood could have a different market from another one just a few blocks away.

Given this volatile environment, how should you find the proper list price for your clients? The last thing you want to do is end up chasing the market because you listed at a starting price that is too high. However, you also don’t want to leave money on the table. That’s why today, I’m sharing three tips to help you set expectations and set the right price for your clients:

1. Future-proof your price. No matter where you’re working, this market is changing every day. That’s why you need to look at the data and try to predict where your market is heading. It’s almost guaranteed that the value of your client’s home will change from when you do your initial comps to when you close on a deal. To prepare for this, I recommend predicting where you think the home’s value will be in two months as a starting point. From there, you need to communicate with your client why this is the best strategy to get them the best price possible.

2. Be kind, loud, and clear with your clients. Your clients are paying you to be an expert for them, not to be their yes-man. They may want to hear that you can get them an amazing price way above what their neighbors have listed, but you need to be honest about where the market is. Be clear and straightforward about your pricing strategy and explain why selling their home is the best course of action. This will help with difficult pricing conversations further down the road.

3. Be careful who you work with. Some clients just don’t want to hear that the price they want is too high. I recommend not working with these clients; the time you spend chasing their high prices is better spent finding reasonable clients. I would only work with sellers who insist on a price that is too high if they’re in a “need to sell” situation. They will eventually listen to you if they need to move, whether due to a new job or something else time-sensitive. Just make sure they sign an automatic price-reduction agreement before you commit to taking on their home.

If you want to nail your list prices but don’t feel 100% confident in your skills, you need hands-on leadership. Given my long history in real estate, I know I can help you. Don’t hesitate to call or email me with any questions. I look forward to hearing from you.