4 Tips for Setting the Right Sales Price

Sellers think their homes are worth more than their real estate professional recommends, and buyers think these same homes are worth less.

Will Nesbitt
Will Nesbitt

It’s a difficult disconnect that makes selling properties a challenge. Successfully marketing a home requires that the price be set carefully — or it will languish on the market. Among the considerations:

  1. How many homes are for sale in the neighborhood? The more homes on the market, the more important it is to list at the lower end of the scale. No matter where you price your home, buyers are going to want to understand the rationale behind why your house is the cheapest or most expensive.  In the end, buyers will pick the house with the most value.
  2. Take short sales and foreclosures into consideration when pricing. If the competing properties are in lousy condition, they are less of an issue, but if they are well taken care of, yet priced 25 percent below market, they can be a serious factor.
  3. Negotiate decisively. Many buyers have options so when you counter an offer, be prepared for the possibility that the counter might be the end of the discussion.
  4. If you have to . . . cut the price. If no one shows up for an open house, if no one calls and if there are no offers, then the price is too high. That means it’s time to make a meaningful price cut.

“Using a real estate agent is a very good idea,” says the U.S. Department of Housing and Urban Development (HUD). “All the details involved in home buying [and selling], particularly the financial ones, can be mind-boggling. A good professional can guide you through the entire process and make the experience much easier.”

Selecting the right professional is the key to a successful real estate transaction. Better than working with a simple real estate agent, you’ll want the services of a Realtor®.

What’s the Difference Between a Real Estate Agent and a Realtor?

More than two million people have earned real estate licenses but only a small percentage of these are Realtors. Realtors are members in good standing of the National Association of Realtors, their state association of Realtors and a local real estate board. Realtors are held to high standards of ethical behavior and must undergo continuing education annually to remain accredited.

All agents of Nesbitt Realty are Realtors!

What Does a Realtor Do?

Realtors are required by law to:

  • perform necessary and customary acts to assist in the purchase or sale of real estate.
  • perform these acts in good faith and with reasonable care.
  • properly account for money or other property placed in his or her care.
  • disclose “adverse material facts” which are, or should be, within the agent’s knowledge.

Realtors can help buyers pre-qualify for mortgages and keep abreast of the latest home listings. They can assist sellers in preparing their homes and screening potential buyers. They can show investors the properties that fit their risk profiles and long-term investment strategies.

Nesbitt Realty can quickly locate the perfect home for you, or sell your home in the shortest possible time frame. Our agents can efficiently organize and coordinate meetings with potential buyers and sellers.

A Nesbitt Realty Realtor will be well acquainted with the important things you’ll want to know about the neighborhood you may be considering:

  • the quality of schools,
  • the safety of the community,
  • traffic volume,
  • price,
  • Metro accessibility
  • nearby parks and attractions

Our agents have immediate access to homes as soon as they are put on the market, saving you hours of wasted drive-around time. When you’re ready to make an offer on a house, our Realtor will help structure the deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages and guide you through the mounds of paperwork.

When it comes to selling your home, a Realtor will save you time and aggravation. Their commission will vary depending on your location. Realtors pay for all advertising, schedule all open houses and make sure potential buyers are qualified. The money they can save you is often more than the cost of their commissions.

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For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
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Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.