Community Chat

[goldensrbest]

In a hot market, low inventory when listing a house, should one ask a few thousand more than agent has said?

[Puppy Lips]

I would.  You can always drop the price.

[SilleeMee]

The buyer(s) will always want to negotiate so it's a good idea to list it higher than the market value.

[geezerette]

Just not too much higher or you won't get offers.

If your agent knows what they're doing, they will know what your market will bear.

[Sassycoco]

I agree with @Puppy Lips....

I would figure out a price...your willing to sell it for....

Start higher ,let realtor know ...your willing to negotiate offers close to the asking price....
Lol....I'm a hagagler 🤣

[Nightowlz]

That's what they do around here. It's always more than the Zestimate on Zillow.

Banks will only loan what it's appraised for unless you have collateral to cover the rest.

[rockygems123]

@goldensrbest 

If you believe you have an excellent realtor and trust them, then trust their pulse on the marketplace, that's their job.

Pricing outside of a range may hurt in searches. For example pricing at 849,999 will be included in a search for 850,000 max let's say, you price at 865,000 then it's not included.

Cutting the legs off a chair somewhat but if you price too high you will deflect certain potential buyers; with a lower starting price if the market is hot with low inventory as you say then you could have a bidding war.

[gizmogal]

One way to look at it is that your house is worth whatever someone is willing to pay for it!  I'm sure there is a limit, of course, where you might price your house out of the market. But kicking the asking price up $1000 more will soon let you know if it matters. If you still get a lot of prospective  buyers and counter offers, then you've priced it right. If the very active real estate market in your locale doesn't reflect real interest in your home, then you'll know you're asking too much and it's discouraging buyers. So then you lower the price.

Since you are asking your question, it would seem that you have confidence the house has great appeal. Your instincts are probably correct. Go $1000 higher than the agent recommends and see how quick buyers get active towards your house. You'll soon know if that thousand dollars matters. 

Best of luck. 

[haddon9]

My neighbor across the street from me just sold her home for $66K (!) over the asking price.  This was last month in bad weather.  We had ice & snow and there was still a bidding war among four parties. 

Pretty unbelievable!

[Sooner]

I usually like to add at least 10 percent to the agent's suggested price.  However, if you want to sell quickly, market it to sell and get rid of it.  You'll probably save money and worry in the long run.

It all depends on what you want/need out of the selling price.