We are putting our condo on the market in the next month. The market in our area hot as usual (lucky us!!) Our realtor gave us a range of 20K that he recommends listing the property at. We'd be quite happy with a selling price in that range. Would you list at the low end or top end of the range? Or, split the baby and list it right in the middle?
Thanks : )
wonderful clementine / 24134 posts
@winniebee: if its a hot market and you don't need to move immediately I would list high!!
hostess / wonderful honeydew / 32460 posts
List high. If you get a lower offer you can counter!
hostess / wonderful grape / 20803 posts
Gah, I'm so conservative! I was thinking of listing in the middle!
I'm liking the encouragement!
blogger / wonderful cherry / 21628 posts
If you aren't in too much of a rush I would start at the higher end, but not the top. That should give you room to negotiate, and maybe you can make some extra money. 
nectarine / 2886 posts
Since you're entering the busy season in real estate, I say list at the higher end and see how much interest and traffic you get. If you're not getting many showing requests or much traffic at the open houses, you can always talk to your agent about bringing the price down. You'll also probably get feedback on pricing from buyers' agents if they feel the asking price is too high. Good luck!
GOLD / squash / 13576 posts
If list it in the middle for hopes of multiple bids. I you post too high you may limit your target market.
GOLD / squash / 13576 posts
Sorry that was not well written. I'd post in the middle and go for multiple offers.
pomegranate / 3917 posts
Middle!
For us, even our middle felt ambitious and it stressed me. For the "few" thousands (I'm acting like that $ isn't a big deal and don't mean it that way at all) we could have gone lower and the stress of selling it quickly wouldn't have existed. If your house is listed for fair market value you will have that as your backbone when dealing with counter offers and wanting to stay close to list price! Good luck selling, ours did sell last month and I never want to go through it again!
hostess / wonderful grape / 20803 posts
@littlek: good advice! I'm also scared of pricing buyers out of our range at the top figure.
@Beebug: Thank you!
GOLD / pineapple / 12662 posts
Depends on what bracket the pricing puts you in. I would go high middle, but just under the next highest 100 or 50 range, whichever is closer. Does that make sense?
wonderful grape / 20453 posts
how desperate are you to sell? i'd list at the higher price for about 3 months and then maybe drop it a little if you get no bites!
hostess / papaya / 10540 posts
@winniebee: Price more conservatively so you set yourself up for a bidding war and end up with that top dollar. 
nectarine / 2886 posts
I think the pp.'s make a good point too as it relates to potential bidding wars. So we recently sold our condo and listed it pretty high at the recommendation of our agent. We weren't seeing much traffic so we lowered it, and in the end there was a bidding war and we sold it for more than the lowered asking price. For me, personally, I'm glad we listed it high first because I would have wondered if we could have sold the place for more. I guess it depends on timing...we weren't pressed on timing so the extra couple of months on the market were worth it to us.
coconut / 8475 posts
I think if you don't list high initially, you will always think, "dang-could we have really gotten that much if we were brave enough to list high?!"
If you're in no rush that is.
No harm in listing for 2-3m and then lowering it to the middle range.
Then if people low ball you you can even say "um no, we already lowered our price from X to Y and were staying in *this* range"..
Bidding wars are fun too but it may be that someone might just come and swipe it for the asking (High asking).
wonderful clementine / 24134 posts
@winniebee: Did you list already?
Another thought is to be careful about price points of buyers. So if your house range is from $190-$210, it may make sense to list at $199 to capture those buyers that are searching for something under $200.
Another thought though is to list high at $210, and then drop if needed. Sometimes buyers are looking for a great value and feel like they are getting a deal on a house that has already been dropped in price (like $210-$199).
hostess / wonderful grape / 20803 posts
@T.H.O.U.: That's exactly my thought!
We are listing soon. Let's say that our realtor suggested 159-179 for an asking price (it's not that price), I think we are going to list at 167,500 in order to capture a different pool of buyers AND to hopefully get multiple offers. Bring on the bidding war! We are going to have our first open house the first wknd in April. Lots to do.........
We are not in a terrible rush, but I'd like to close by mid-July. Condos usually go under agreement within a week or two in my area....would be great if we could accomplish that!
wonderful clementine / 24134 posts
@winniebee: Good luck! That would be so exciting to have a contract in a week or two.
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