Pricing Strategies In Crested Butte

It is very important to think about pricing strategies when selling your Crested Butte home. A really good real estate agent can positively affect the selling price point of your home by as much as 5%. One area of recommendation may be to turn to the active listings in your area and see which homes that are similar are for sale and what their price points are. Having a knowledgeable agent in this area is key! Knowing the housing market and where your current home fits in the scale will help when it comes to listing it.

If you have looked at the sold data, you should know how many similar homes sold in the past twelve or twenty-four months in your area. This is a pretty good predictor of how many will sell in the next twelve months as well. Will your home be one of those homes that sell? Why not put your home on that list of homes that will sell? You can do this by attractively pricing your home as compared to the competitive listings in your neighborhood.

Competitive Based Pricing Strategies In Crested Butte

When putting together a pricing strategy for a home, I recommend using a multi-pronged approach. It’s important to not just look at your home, but also consider homes in the area for market context. A local real estate expert will first analyze the recently sold homes in the area, looking closely at homes similar in size and features. Next, a Realtor should view homes nearby that are on the market, not only see what is available but how your house compares to other homes in your neighborhood.

They will take a look at how long each house has been on the market and what their price point is. A Realtor will also examine the differences between your house and theirs like a big backyard, a renovated kitchen, or a walk-out basement. If your house is unique and there are no homes similar that have sold recently or are currently for sale, hiring a local appraiser to give his opinion of value would be invaluable. With all this information, have an open discussion with your Realtor to discuss their recommended price range and narrow it down to a list price.

Listing Prices And Numbers Pricing Strategies In Crested Butte

Using round numbers when it comes to listing your home is more attractive to buyers. With this being said, you should talk to your agent about what price you are comfortable with. This number can be flexible and should be able to give you some wiggle room. For instance, leave some room for closing costs to be added to your price. The result is that you will get more showings because your home is slightly less than other similar homes. You are offering a “better deal” and, regardless of the other competitive sellers that may have negotiated down. Instead, you are the seller that gets the offer(s).

Discuss a Timeline With Your Agent

I always recommend listening to your agent as objectively as possible. It’s easy to get emotionally attached to the value of your home. But I promise that your real estate agent wants the best for you, even if that means listing your home for less than you believe it is worth it. With the market being as hot as it is right now I find it more important than ever to have the right price for your home! If you are adamant that you want to price your home higher than your agent is suggesting based on the data of the market, you need to think about the future.

You should discuss a timeline for when you might reduce the price, and by how much. You and your agent need to have a clear plan that you are both happy with. And while pricing your home higher and waiting for that perfect buyer to come along seems great, you might actually end up losing money. If this is the strategy you decide to go with, you should also be calculating your holding costs. It’s important to have an open and honest conversation with your real estate agent about how you’re going to handle the pricing of your home. But try to listen to your head and not your heart when presented with facts and data!

How Can I Help?

If you have any additional questions about pricing strategies in Crested Butte please reach out! Contact me to help you if you have any questions.

If you want to chat about the real estate market here in Crested Butte – give me a call… (970) 209-5405

I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.

The Crested Butte area offers a wide variety of properties including ski-in/ski-out single-family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, quality homes in Downtown Crested Butte, and true fine mountain homes on acreage.

To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.

The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.

I have consistently been a Top Real Estate Agent in Crested Butte, and I appreciate the opportunity to earn your business and be your Crested Butte Real Estate Agent.