In this episode, Jerry breaks down how to determine your home's market value and choose the right pricing strategy. He clarifies the differences between assessed, appraised, and perceived values, explaining why they don't always match the market value. Using a comparative approach, Jerry outlines how to evaluate active, pending, and sold properties to establish an accurate market value. He also introduces the “Goldilocks strategies” for pricing—too high, too low, and just right—and shares tips for collaborating with your real estate agent to select the best approach.
Jerry also further explores the psychological factors behind pricing decisions and offers practical advice for preparing your home for sale. Key takeaways include separating emotional value from market value and using strategic pricing to attract the best offers. This episode equips homeowners with the tools to confidently navigate the real estate market and maximize their property's value.
Chapters:
00:00 Understanding Home Value Perceptions
02:03 List Price Versus Market Value
04:54 Advice on Establishing Your Home's Market Value
06:35 Using Comparative Market Analysis
09:10 Understanding Pending Home Sales
10:38 Examining Homes That Have Sold Similar to Yours
11:48 Why The Market Determines Your Home’s Value
15:15 Why Hiring The Right Broker Is Key
16:48 Why Uniqueness Does Not Always Add Value
18:59 Breaking Down the Goldilocks Strategy of Pricing
19:44 Pricing Strategies: Too Hot, Too Cold, Just Right
25:07 Breaking Down Normal Market Time For Closing
33:41 The Psychological Impact of Pricing
36:48 Conclusion and Final Thoughts
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Produced by: Social Chameleon
https://socialchameleon.us/