When It Comes to Selling Your Home, Proper Pricing is Everything.
Have you ever watched the A&E Show Pawn Stars? Sometimes, a potential seller will present an item that they perceive to have a high market value, either from anecdotal information they’ve received from others, or based on how much they have seen similar items sell on eBay or some other online marketplace. Inevitably, the shop owner and star of the show, Rick, will reply, “the price people are selling this item for doesn’t mean people are buying the item for the same price.”
What does this have to do with selling your home?
It doesn’t matter what someone thinks their home is worth; what matters is what the market – and potential buyers – think it’s worth. I’ve had and witnessed far too many clients, of mine and of other realtors, watch their homes sit on the market for months on end without so much as an offer. They might think their home is worth the price they’re asking, but if they are the only one who thinks so, it could be a very long road ahead of them.
It is completely natural for people to perceive their home as possessing more value than what the market 'values it at' - it's a natural gut instinct, but often times it’s these instincts that can cost homeowners money. There is a strategy among homebuyers to price above the market value so you create a buffer to allow the seller to “lower” the price. In my experience, this is a losing strategy, and probably the worst strategy I’ve come across as a real estate agent. If a house is priced right from the beginning of the listing, it sells much faster and for more value. Nothing dings a house price more than sitting on the market for months on end.
A Simple Formula to Selling Your Home in Fort Worth
Ultimately, the ability to sell your home boils down to 3 main keys: price, location, and condition. The location and condition are based on simple demand: the more desirable the location, and the better the condition, the higher the asking price can be. However, the actual selling price can be a bit more intricate. Thankfully, with the utilization of technology, we can use recent trends to help you find the perfect selling price for your Fort Worth home. The most important metrics we use to figure out the ideal selling price are:
- How many homes have sold in the area in the last 6 months
- Homes currently under contract
- Active homes in the immediate area
- Combined days on the market
- Sales price vs Listed price
Combined, this data helps homebuyers price their home.
How We Can Help
We, however, like to go the extra mile. We will reach out to other agents in the area to find out either a) if expired listings in the area didn’t sell as a result of overpricing, or b) homes that sold for what appears to be above the market rate and what factors led to that particular sale.
The Chicotsky Real Estate Group realizes how important it is for our clients who are interested in selling their home or condo in Fort Worth to maximize their investment during the sale process.
Why Do We Call This Newsletter “The Differentiator”?
When it comes to real estate in the Fort Worth area, we want to be different and better than any other agents in North Texas. I have an economics degree from one of the top programs in the country; having this education helps me understand market trends and being a strong advocate for my clients in ways most agents aren’t able to be. My family has called Fort Worth home for well over a century, and and Michaela and I are two agents that are more than proud to call Fort Worth home.
My wife Michaela and I make an amazing real estate team: no middle-men, no extraneous overhead, the majority of the time we are more qualified and more equipped; we flat-out work harder than the competition. We would love to provide you with absolute best real estate experience and provide the type of world-class service and expertise from a family who truly loves the great city of Fort Worth and all the surrounding areas, personally hired by the CEO - Robbie Briggs of Briggs Freeman Sotheby's International Realty. We want to be your agents now and into the future. From listing your home to investment property, land and ranch, as well as commercial - we're ready to work with you.
Featured Local Non-Profit
DRC Solutions: It is the goal of DRC Solutions to put an end to homelessness in the Fort Worth area. I am fortunate enough to be on the Board of Directors of this amazing organization, and it’s a cause I take a great deal of pride in contributing towards. With the support of our community, DRC Solutions is changing lives and helping the homeless citizens of Fort Worth achieve a sense of dignity, and become more productive contributors to our great city.
Fun Things to Do in Fort Worth
One of the best aspects of Fort Worth is the wide array of activities, festivals, and concerts the city showcases on a weekly basis. Every edition of The Differentiator will highlight some of the festivals that really catch our attention.
Casey Donahew @ Billy Bob’s Texas:
Born and raised in nearby Burleson, Texas, Casey Donahew has been one of the most popular Texas country musicians over the last decade. He is well known for his live performances, and anyone who loves country music will love watching Casey Donahew live.
Martin Luther King Jr. Parade & Rally @ Sundance Square, Downtown Fort Worth
Looking for something to do on this National Holiday? This parade commemorates the historic march on Washington and will feature marching bands, floats, and decorated vehicles.
Stockyards Championship Rodeo @ Cowtown Coliseum
The Friday night show of Stockyards Championship Rodeo showcases a tense rodeo competition, including breakaway roping, tie-down roping, and everyone’s favorite: bull riding. Enjoy a night of excitement at the Stockyard Championship Rodeo.
