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Ask the REALTOR: Since it’s a seller’s market, are you able to price listings higher than their actual value?

By in Ask the REALTOR® with 0 Comments

Ask the REALTOR® is a regular video series in which I answer your most commonly-asked real estate questions, with a new Q&A posting every week. If YOU have a real estate question for me, drop me a note here.

This week’s question: Since it’s a seller’s market, are you able to price listings higher than their actual value? Here’s the answer in this brief video, and don’t miss the transcript below.

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Transcript:

Hi. This is Cari McGee with Keller Williams Realty. Welcome to this week’s episode of “Ask The Realtor.” Every week, I answer questions from buyers and sellers — and pretty much everyone in between — regarding real estate. This week’s question is:

“Since it’s a seller’s market, are you able to price your listings higher than their actual value?”

Not if I want to sell them, I can’t. No.

Here’s the scoop: A house is always worth what a house is worth regardless of the market that’s surrounding it, whether it’s a seller’s market or a buyer’s market.

A home’s value is defined in real estate land as the amount that a seller is willing to sell it for and the amount that a buyer is willing to pay for it. And perhaps with a rapidly appreciating market, like with ours currently here in the Tri-Cities, you might be able to price it for more than you thought it would be worth looking at the pattern of appreciation in your area. However, you should not make a habit of overpricing a home ever because it will just sit there on the market regardless of the surrounding, prevailing attitude towards houses — whether it’s a buyer’s market or a seller’s market.

A house is always worth what a house is worth, period. And that is the scoop from me. If you have any other questions, by all means, give me a shout via any one of the methods that follow on the next screen.

And if you’re wondering what the decor is in here, like the balloon behind my head and the little streamers and banners, it was my birthday recently and at the office they decorated it and I appreciate that! It will all be gone next week. [laughs] Anyway, talk to you then. Thanks so much for watching. Bye.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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