Karen Brewer

Darien Real Estate-New Statistics-New Pricing Insights

Today the agents in the Darien office of William Pitt Sotheby’s were given a new market analysis tool called Broker Metrics.This is about the third new  computer system we have seen in as many weeks so I for one was a little glazed over. That is ,until saw what kind of information this program could deliver.

One of the greatest obstacles to helping people sell their homes in Darien has been the reluctance of sellers to price their homes correctly.Among other things,Broker Metrics uses historical data from the CTMLS to quantify what can happen when sellers overprice their homes. In the town of Darien,Ct for example, the more of out whack the pricing is,the longer the home stays on the market. That in turn starts a cycle of price reductions which may or may not result in a sale.

Further, if  you choose to overprice you may wind up with a “price per square foot”  lower than if you had priced the home correctly from the beginning! Overpricing adds negotiating room that in the end favors buyers.When you think about it, this makes sense. Agents know from experience that when a home is on the market  and multiple price reductions have occurred,buyers will sense desperation and bid with a, “I smell blood in the water” avarice.

Now, I can prove it! I can slice and dice by town,price range ,etc.to illustrate the danger in overpricing and find the correct price to sell your home in the shortest time.

Call  me at 203-554-0951 or email at kmbrewer2@aol.com to have a look at the information. It’s free and could help you save a bundle and a lot of aggravation down the road.

This entry was posted on Thursday, October 1st, 2009 at 5:21 pm and is filed under Market Trends, Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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