Determining the asking price for a house you’re selling can often feel like a balancing act between emotions and logic. You may initially have a number in mind when discussing with your agent; however, if there’s a disagreement, various methods can be employed to arrive at a price that satisfies both your preferences and aligns with current market conditions.
“Take a moment to consider the possibility that your home might not be valued as highly as you believe in today’s market,” noted Michelle Schwinghammer of West + Main Homes in Denver.
Seek out an agent who is open to collaborating with you and committed to making the process comfortable. Ultimately, the final decision on setting the sales price is yours. Having open, constructive discussions usually leads to better outcomes than simply working with someone who tells you what you want to hear.
“If you have concerns about your agent’s suggestions—whether it’s about the price or anything else—don’t hesitate to voice them,” advised Chris Howey of Kentwood Real Estate in Denver. “Engage in a conversation. Try to reach an agreement that reflects your preferences, considers all aspects of your property and location, and takes the agent’s knowledge and advice into account.”
Request the Data That Backs the Price
Real estate agents typically evaluate multiple aspects of your property to suggest a listing price. They study sales data from comparable properties (“comps”), evaluate your home’s condition and unique features, and factor in market trends, school districts, and location. This information should always be made available for your review.
“Any agent you work with should provide you with neighborhood sales data that backs up the price they’re suggesting,” said Howey. “Keep in mind that comps should closely resemble your home in size (within 20%), location, layout (single-story vs. two-story), and features, such as whether the basement is finished or not.”
While you may have done your own research using online tools, pricing a home accurately isn’t that simple. The housing market can shift quickly. Experts recommend basing your price on comparable data from the past six months for the most accurate results.
When checking the MLS (Multiple Listing Service), remember that sale prices may not tell the full story. They often exclude important conditions or contingencies that affected the final deal.
“We’ll go through all the comparables I use, review the photos and footage, and consider the location,” shared Amanda Snitker from Coldwell Banker Realty in Denver. “It really helps sellers understand the reality of the market.”
Visit Other Homes on the Market
Consider touring other properties that are listed within your and your agent’s suggested price range. Ask about their condition and compare them to your own home. Also, pay attention to how long the homes have been on the market. A long listing period may indicate that the price is too high.
Make Strategic Upgrades to Add Value
To potentially increase your home’s selling price, consider improvements that add real value. Schwinghammer noted that the discussion about upgrades often happens early in the process, such as during the first consultation.
“It’s common for sellers to discover that investing in ‘under-the-hood’ features—things that may come up during an inspection—can be money well spent,” she explained.
In fact, failing to address major issues like a damaged roof, outdated water heater, or a faulty sewer line can scare off buyers altogether. Schwinghammer recommends tackling these issues early to ensure a smoother selling process.
Cosmetic changes like fresh paint or landscaping might help improve appeal, but they likely won’t close the gap between what you hope to sell for and what the market will bear.
Instead, Schwinghammer suggests opting for upgrades you can enjoy for a while before selling, especially if you’re not listing your home right away.
Consider Getting a Third-Party Appraisal
You also have the option to hire a third-party appraiser, typically at a cost of around $358, according to Angi.com. However, this may not always be the best route.
“I don’t usually recommend that approach,” said Chris Pero of Max Broock Realtors in Birmingham, Michigan. “An appraised value doesn’t always reflect what a buyer is willing to pay.”
He added that real estate agents generally provide pricing advice for free, and an appraiser’s evaluation might not significantly impact your sale price.
Let the Market Speak
Ultimately, the market always tells the truth. Within the first two weeks of listing a home, you’ll usually know whether the price is right.
Ellyn Wolfenson of Coldwell Banker Realty in Minneapolis said she avoids price disagreements and emphasizes that the seller always has the final say. Still, sellers should be realistic: if weeks pass with no showings or interest, the price may need to be adjusted.
Some agents agree to list a property at the seller’s preferred price but with a plan: if there’s no action after two weeks, they’ll lower the price to attract more buyers.
“I don’t think it’s a good idea to reduce the price little by little,” Wolfenson explained. “That just draws in bargain hunters who are waiting for more cuts.”
Agent Covell pointed out that waiting too long—such as a month after the initial listing—to lower the price could cause you to miss out on serious buyers who’ve already moved on to other homes.
Get a Second Opinion
If you’re unsure about the advice your agent is giving, it’s okay to seek another opinion. Some real estate professionals consult with their colleagues or team members to gather different perspectives.
“Your real estate agent might even check in with other professionals in their office to get a well-rounded view,” said Holly Connors of @properties Christie’s International Real Estate in Arlington Heights, Illinois.
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