Pricing, Pricing, Pricing!

I know we have all seen many articles about pricing properties, and how extremely crucial it is to price them correctly. Well I am here to just reinforce that thought. I was speaking with one of my seller's the other day and she is trying to convince me an interior shot of her home for our advertising magazines would be better, and to stress the fact that there is a bus stop on the corner of her street. Although these suggestions aren't absurd, they still don't sell houses. The fact that she is asking $20,000 over what her ASKING price should be is the problem. I would say 70% of "sellability" is based on the price, 15% based on a appearance, and 15% on marketing. Some of you may disagree but when searching for a home for a buyer, the main factor is what the can afford (price), then there specifics. They can visualize what they can do in the future to make it more aesthetically pleasing.

Let's face it, a properly priced property (which in this market is priced under the competition), sells quick. I had a town-home go under contract in 18 days last year because the property was truly worth it and buyers were able to see the value in it. If your sellers are serious then they will listen to your professional and expert opinion on what they HAVE to be asking to sell their home.

Bottom line is get your properties priced right this year. They might have to change the motto for real estate from "location, location, location" to "pricing, pricing, pricing."

Give me your opinions.