Two Traps Sellers Face When Pricing A Home

Casey Samson

4 years ago

A Good Market Does Not Mean You Can Over Price Your Home

Our team tracks homes for a living, including 39 homes that were listed with Realtors who over priced the home.

What we found:

If you price your house too high, the home will sit on the market and you will lose between $500-$1000/day after the first ten days, most of us can’t afford that.

20% Success Rate
- 8 homes sold or are under contract at 90% of list price
- 8 homes are still active
- 23 Homes withdrew or expired unsold
The homes average 143 days on the market
After that many days on market, you can bet it was a very difficult inspection process.

Sellers that sold with our team, with homes price correctly and prepared for today’s buyers, benefited greatly. Our team developed the most reliable Pricing Model in the industry, which has produced an incredible track record.

Here are some recent examples:

322 West St received $77k over APPRAISED VALUE in the first week. No appraisal, No Inspection
9017 Lupine Den sold for $30k over list price in the first week. No appraisal, No Inspection
307 Plum sold over List price in the first week with No Appraisal, No Inspection
1832 St Boniface sold above list price in the first week, No appraisal, No Inspection
6334 Hidden Canyon sold for $30k over list in the first week. No appraisal, No Inspection
125 Amalfi Ct sold in the first week for $20k over list price with No appraisal, No Inspection to a buyer from England who never visited the property.
2303 Sawdust Rd sold in first week for $50k over list with no appraisal and no inspection.

Two Traps Sellers Face
When Pricing A Home

The only way to have a successful transaction is to price your home correctly. In the real estate market today there are two main traps the prevent sellers from pricing the home correctly, getting the highest and best value for their home with the best terms available.

#1 Agents hungry for listings will over price homes to get the listing.

#2 Automated online pricing systems allow Realtors and sellers to get their value in seconds with 26 page reports. They are incredibly unreliable. Values can vary 10%-15% between pricing engines, this could be a $200K difference! The only way to determine “True Value”, and the threshold with the largest buyer pool, is through a skilled Realtor who is an expert on pricing.

It’s not important for you to ask a realtor what is my house worth, it’s more important for you to ask a realtor HOW did I arrives at the price. How did you authenticate the value?

Why Realtors and Sellers Over Price Their Homes

DO NOT depend on computers, or artificial intelligence, to price your home. It’s not as simple as putting your address in an AI program and then knowing what your home is worth. We tested 5 different pricing sites, and received 5 different values of a home. We found these values can be off by as much as 15%. Even Realtors fall for the simplicity of instant AI pricing. When seriously pricing a home, the HOW they arrive at the value is far more important than the WHAT the home is worth. With $10’s of thousands at risk, you need a professional assessment of the value of home. Nobody does it as well or as thoughtfully as The Casey Samson Team. .

If you, your family or friends are thinking of selling a home, interview three agents and make sure The Casey Samson Team is one of them. Casey will walk you through every step of HOW we arrived at a price for your home.
Contact Casey at casey@caseysamson.com for a no obligation consultation via Zoom today.

For more on pricing read our Four Pillars of Real Estate Success.

Watch a short recap of this very topic here (3 minutes):

Watch the FULL Coffee with Casey Episode here (20 minutes):