Why Your List Price Matters When Selling a Home in Utah

If you're thinking about selling your home in Tooele County or anywhere in Utah, there is one number I don't want you choosing based on emotion:

Your list price.

I understand why sellers want to start high.

You love your home. You've invested money into it. Maybe you've upgraded the kitchen, finished the basement, landscaped the backyard, added a garage or watched a nearby home sell for an impressive number a few years ago.

And of course, you want to get as much money as possible when you sell.

I want that for you too.

But getting you the most money and listing your home for the highest possible price are not necessarily the same strategy.

Buyers Have More Information Than Ever

Today's buyers aren't viewing your home in isolation.

They're comparing it to everything else available within their price range and preferred area.

Depending on where your home is located, a buyer may be comparing it against:

• Other homes in your neighborhood

• Homes in surrounding Utah communities

• New construction and builder incentives

• Recently reduced properties

• Homes offering seller concessions

• Properties with larger lots or additional garage space

• Finished versus unfinished basements

• Different upgrades, finishes and overall condition

If your home is substantially overpriced compared with those alternatives, buyers usually notice.

And sometimes they don't submit a lower offer.

They simply move on to the next house.

The First Few Weeks Matter

One mistake sellers sometimes make is assuming:

“Let's start high. We can always lower the price later.”

Technically, that's true.

Strategically, it can create problems.

When a new listing hits the market, it gets attention from buyers who have been waiting for a home that matches their criteria.

That initial exposure is important.

If those buyers immediately decide the home is overpriced, you can lose some of that early opportunity.

Then the home begins accumulating days on market.

Eventually, the question buyers start asking can change from:

“Should we go see this house?”

to:

“Why hasn't this house sold?”

That's not the position I want my sellers in.

Pricing Strategically Doesn't Mean Pricing Cheaply

This is important.

When I talk about pricing your home accurately, I am not talking about giving your house away.

My goal is to help you achieve the strongest possible outcome.

To determine a pricing strategy, I look at factors such as:

• Comparable homes that actually sold

• Current active competition

• Pending sales when useful information is available

• Days on market

• Home condition

• Upgrades and renovations

• Location

• Lot size

• Square footage

• Basement finish

• Garage and parking

• Buyer activity

• Current market conditions

The market can also vary significantly from one Utah community to another.

What's happening in Tooele may look different from Salt Lake City, Herriman, Lehi, Stansbury Park, Grantsville or another Utah market.

That's why broad market statistics only tell us part of the story.

To understand what your home may actually sell for, we need to look specifically at your property and the homes buyers will be comparing it against.

I Won't Tell You a Number Just to Win Your Listing

This is something I feel strongly about.

If the comparable sales and current competition indicate your home is likely worth within a certain range, I'm going to show you the data behind that recommendation.

I'd rather have an uncomfortable but truthful conversation before we list than repeatedly deliver bad news after your home has been sitting on the market.

You deserve to understand what the market is telling us.

Could a buyer surprise us and pay more?

Absolutely.

But hope isn't a pricing strategy.

Our pricing strategy should be supported by the market while still positioning your home to achieve the best outcome possible.

There Are Other Ways to Improve Your Bottom Line

Price is only one part of successfully selling a home.

We also need to think about presentation, marketing, exposure, negotiation and the terms of the offer.

A strong offer isn't necessarily just the offer with the biggest number at the top.

When reviewing an offer, I also want to understand:

• The buyer's financing

• Requested seller concessions

• Earnest money

• Contingencies

• Inspection terms

• Appraisal considerations

• Closing timeline

• Possession

• Your priorities as the seller

Maybe getting the highest possible price is your biggest priority.

Maybe timing is extremely important.

Maybe you're purchasing another home and need proceeds from this one first.

Maybe you need flexibility with your move-out date.

Those details matter, and they can change how we approach negotiations.

My Goal Isn't Just to Put Your House on the MLS

My job is to help you make informed decisions from the day we discuss pricing through the day the transaction closes.

That means helping you understand the market, setting realistic expectations, preparing your home for sale, marketing it effectively, reviewing offers, communicating upcoming deadlines, coordinating the moving pieces of the transaction and protecting your interests along the way.

Selling a home involves a lot more than putting a sign in the yard and uploading photos to the MLS.

Thinking about selling a home in Tooele County or elsewhere in Utah?

Before deciding on a list price, let's look at what buyers are actually paying for homes like yours.

I'm happy to prepare the numbers and walk through them with you—even if you're still several months away from selling.

Sarah Kerchner
Utah Realtor | Serving Tooele County & Beyond
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