Listing Your House For Sale And How To Tell If It’s Overpriced

Listing Your House For Sale And How To Tell If It's Overpriced


What is the first thing you ask your REALTOR® when you are thinking of listing your house for sale?  In my experience it’s, “what do you think I could list it for?”  In this market of rising prices that can be a tricky answer, normally I would look at similar properties sold and active listings and compare your property to the most recent sales.

Market evaluation

Taking a look at similar properties sold and active listings, then comparing your property to the most recent sales, is called a market evaluation – giving value to;

  • the location
  • condition
  • size
  • number of bedrooms
  • number of bathrooms
  • landscaping

All these can increase or decrease the value of a home.  Sometimes a home owner may need to sell right away, sometimes they may want to test the market.

Listing your house for sale

There are many important factors when listing your home.  In my opinion the price, condition of the home and the marketing are the most important.  If you list your home too high you possibly may get many showings but no offers in which case you need to fight backwards and get the home to the correct price.  I always tell my clients, these are the 2 best ways to tell if your home is priced correctly;

  1. if it has had 10 showings and no offers a price adjustment is probably necessary.
  2. if you have no showings and the property has been marketed well, is on MLS and has been for 3 weeks, then you also may want to adjust the price.

If a property is on the market too long, especially in this extremely active market most buyers will assume something is wrong with the home.  The best plan when listing your home is to price your home correctly to avoid price reduction and disappointment.

If you are looking for experience, a REALTOR® with knowledge, professionalism and understanding of this beautiful city give me a call and we can discuss your real estate dreams.  250-619-1220, or email me [email protected].