Pricing your home correctly is so important, even in a seller’s market. Yes, I do harp on pricing often, but Tamara and Marc’s story is the reason why I know pricing right is critical if you’re selling your home.

Their story in a minute, but first, we recently learned that 2,000 homes for sale—listings—expired; which means there are 2,000 individuals and families in the Atlanta area that want to sell and are waiting for a buyer. I’d be willing to bet that many of those homes are not priced right for the market. So, if you are—or know—one of those families, please know that I’m here to help get that home priced right and sold!

Tamara and Marc were one of those families and here’s what happened to them.

They had tried twice before to sell their home before they called me. By the time we started to work together, they were paying two mortgages because they had moved into their dream home. Needless to say, they were stressed about the situation.

The first time they attempted to sell two years ago, the best offer they received was for about 1.5 percent less than we listed it for, which they turned down because they thought it was too low. Once I came on board, we decided to invest about $5,000 in replacing the popcorn ceiling in the sunroom, add modern paint in living room, office, kitchen, and hallway.

We listed their home for $599,000. Within one week, we were under contract for over asking, with multiple offers. So, just by investing $5,000 in cosmetic improvements they were able to sell for 200 percent more than they spent on upgrades, and quickly, which was important to them.

Hire an agent that is familiar with your neighborhood

The first time they tried to sell, T&M didn’t know how value is assessed, and about pricing homes where we live—we happened to live on the same street, so I was very familiar with the area. In their case, in the basement they had two bedrooms, one bath – of the total 5 bedrooms and 3 baths – and an amazing living room and bar. The basement space is not equal to above grade living space. Therefore, their home was priced too high and failed to sell.

You’ve got to make improvements

Modern buyers – whether Millennials or Baby Boomers – want a move-in ready home. A coat of fresh paint in today’s neutral colors, new carpet and/or flooring, an updated kitchen will go a long way toward helping your home sell. Curb appeal is also very important. I like to create a detailed plan of improvements with my sellers, so we can balance cost with return and decide what improvements make sense. For T & M, it was updated paint, especially where the colors where too personal.

Find an agent that takes time with you

Tamara and Marc had lots of questions and, understandably, wanted to get all the information they could so that their attempt to sell would be successful the third time around. I totally understood, and we spent lots of time talking about pricing, how appraisers look at homes, improvements and buyers perceptions.

Needless to say, T & M were very happy with the outcome, and I thoroughly enjoyed helping my friends sell their home.

They were so sweet to offer these words of encouragement to future sellers:

“Working with Michelle was simply wonderful. She is attentive, she is responsive and importantly she is resourceful. She educates her clients on what needs to be done to get the best price for your home.”

Even in a seller’s market pricing can be tricky, but it’s a part of real estate that I love the most. If you can relate to Tamara and Marc’s story, feel free get in touch. I’d be happy to talk over your pricing strategy.

Cheers,

Michelle