Price is Critical in Real Estate

The single most critical informational factor in selling anything, including a house, is Price. If a house is overpriced, it won’t sell.  If a house is under-priced, the seller is losing money.

If a house has everything done right – superbly marketed, well prepared, highly maintained, even lots of upgrades, etc. – but if the price is too high for the market, the house won’t sell. Ask yourself, would you buy a house for a price that is too high just because its price is what the owner wants to get? Or, if the price is too low, the house will most likely sell quicker, but you won’t get as much as you could have – you’re leaving money on the table – it should be your money! Price is critical.

In Real Estate, pricing a house or property isn’t as easy as it may seem. There is a myriad of complicated factors involved. It is a common misconception real estate agents are taught how to determine a selling price in real estate licensing school. Typically, agents are not taught pricing skills. If anything, agents are briefly taught how to do a Comparative Market Analysis (CMA). Most real estate schools don’t even teach how to do a CMA. So, an average real estate agent will only have a cursory knowledge of how to set a price and use a lot of trial and error when it comes to setting a price.

It is a proven fact the longer a house is on the market, the less chance it has of selling. It has also been proven that the first couple of weeks of a house being listed for sale is the very best time to get the highest price – new listings are the prime marketing window of opportunity – this window of opportunity closes quickly. Placing a house on the market and then taking it off only builds a history of fickle behavior for the house – not good, either. According to Beth Ross with Carolina Pines Realty, “An accurate selling price, a price which is best for the market of your house, is critical to take advantage of the most prime marketing time of your house – the time when you will get the highest price offerings. If your agent is testing the market or has to keep adjusting the price to an accurate selling price, then your house will be on the market much longer than it should be. The longer a house is on the market, the higher the probability it will get overlooked – why has this house not sold yet? There must be something wrong with it”. And not to mention the inconvenience of keeping your house in show condition. An accurate selling price is critical. Fortunately, the mortgage, banking, and real estate valuation industries utilize Real Estate Agents and Brokers for pricing work. This has spawned a new generation of Real Estate Agents and Brokers – Certified Real Estate Pricing Specialists, C-REPS.

C-REPS are licensed and credentialed Real Estate Agents and Brokers who are experts in marketing, selling, and buying houses. On a daily basis, C-REPS provide highly accurate price opinion services on houses and real estate properties to banks, lenders, mortgage servicers, BPO and REO Companies, and Real Estate Valuation Companies. To do this, C-REPS are trained and certified in all property and house pricing factors and aspects. C-REPS also have access to superior market data, which average real estate agents usually don’t have. If banks, lenders, mortgage servicers, BPO & REO companies, and real estate valuation companies can trust C-REPS agents, you can trust a C-REPS agent to market and sell your house or buy a house for the best price.

Representing a seller, C-REPS can market your house at the best possible price. Representing a buyer because of their sharpened and honed pricing skills, C-REPS can quickly and inherently spot a good deal. Whether buying or selling, C-REPS is the best choice if you need a Real Estate Agent or Broker.

If you have a Real Estate Agent or Broker, simply ask them if they are a C-REPS, they may be. If not, encourage them to become a C-REPS – you are the customer, and it only benefits you to have a more qualified Agent or Broker working for you.

If you are looking for a Real Estate Agent or Broker, be sure they are a C-REPS (Certified Real Estate Pricing Specialist). You can find a C-REPS Agent or Broker by searching in the C-REPS Directory. For best results, contact several C-REPS and interview each to find the best-qualified Agent to serve you. If you own a house, you can also ask them for a free House Price Report. C-REPS are happy and eager to provide this service to you with no obligation. The free House Price Report is a highly detailed market analysis report of your house, property, and surrounding neighborhood – everything your house is worth.