“The Goldilocks Approach”

Anyone who’s done a Web search — which means everyone — knows the problem:  type in an overly broad search, and it returns a zillion hits.

However, type in an overly narrow or restrictive search, and it returns zero hits.

A home’s list price works the same way, albeit in reverse.

Too high, and you get nothing — no showings, let alone second showings or offers.

But if you price it too low . . .  the listing can turn into a three ring circus, which can be off-putting to at least some Buyers — and therefore actually hurt the ultimate sales price (possibility #2:  Buyers figure there’s a catch, and skip it altogether). 

Between Zero and a Zillion

The solution?

Surprise, surprise . . .  to pick a mid-point price that narrows the field of serious Buyers to a manageable handful.

And what price is that?

The price suggested by three recent, good Comp’s — informed by a knowledgeable local agent’s experience and sense of the market.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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