Pricing

Not to brag, but I'm generally a whiz at pricing homes. I lost a listing once once because the seller wanted $300k and I told her it was worth $240k. When all was said and done and the house sold, the husband said to Marty, that the agent his wife used promised them $300k. They got $240k. Plus, they didn't get the benefit of the repeat client commission discount (they'd bought from me before) and paid a lot more in commissions. And the home stayed on the market much longer because it was over-priced. 

Not that I'm bitter. 

Anyway, I have a listing coming up next week. My client bought the home three years ago and is now selling it. The house in question is horse property in the absolute middle of nowhere. If you know where Skyline and Schneff is, you are in the general vicinity but still a ways off. I will be driving the all-wheel drive car to get there when I meet with my client. It's that kind of area. 

My dilemma is I can't price the place. And it is hurting my ego. There is absolutely nothing that has sold in the area like this house. Sure, there's horse property out there. Sure, there's other homes the same size with similar features nearby. But there isn't anything else the same size with similar features that's horse property. See what I mean? Plus, my listing has a fenced landscaped yard (most horse property doesn't) and a bonus air conditioned workshop, which nothing else around there has at all.

My gut tells me I can list the home for whatever I find to be reasonable and my client will get it. If it doesn't get multiple offers within a week, it is priced too high. But come on! How does that serve my client? How does that serve my ego? 

Faced with this, I did the only thing that made sense: I called my broker-pal Sally and asked her to comp the house for me. I haven't heard back what she thinks it is worth, but even if she gives me a number that is different than mine, she's already given me another nugget of advice I will probably follow: price the home for whatever I find reasonable. If I don't get multiple offers within a week, it is priced too high.