How Do You Decide What to List My Home For?

I start with what homes like yours have actually sold for, nearby and recently. Then I adjust for what makes your house different, and I show you my reasoning, so the number makes sense to you before it ever goes on the sign.

I am Delia Bayna, a REALTOR with eXp Realty in Salt Lake City, Utah. "What would you list my home for?" is usually the first question a seller asks me, and here is how I answer it.

When someone asks what I would list their home for, the price is rarely the whole question. Underneath it is usually something bigger: am I sitting on more money than I think, and can I afford to leave?

A list price answers part of that. What you walk away with after the payoff and the costs of selling is the number that tells you what you can afford next. I walk through that math in what will I actually walk away with.

The list price still comes first, because everything else in a sale is built on it.

I price every listing from real, current comparable sales. A comparable sale, or comp, is a home like yours that sold recently, close by. Sold is the important word. An asking price is what another seller hopes for. A sale price is what a buyer actually paid.

In Salt Lake City, close by means your neighborhood, not the whole city. A citywide average flattens the things that drive price here: historic character, walkability, lot size, and how close you are to the mountains. A home in the Avenues and a home in Sugar House can have the same square footage and sell for very different amounts.

Utah adds a twist most sellers do not know about. Utah is a non-disclosure state, so sale prices are not public record. You will not find what your neighbor's house actually sold for on a county website or a home search site. REALTORS can see sale prices in the MLS, and that is where my comps come from.

The websites that estimate what your home is worth cannot see Utah sale prices either. They make their guess from asking prices, tax records, and averages. They also do not know about your updated kitchen or your finished basement.

No two houses are the same, so no comp is a perfect match. After I find the closest sales, I walk your home and adjust for the differences a buyer will notice and pay more for, or less for.

• Is the basement finished, and do its bedrooms have egress windows?
• Have the roof, furnace, or water heater been replaced, or are they near the end of their life?
• Is there a garage, and how many cars does it fit?
• Is the main living space on one level, or are there stairs to every bedroom?
• Does the lot back to a busy street, or does it have a view?

Some neighborhoods make this harder. In the Avenues, an older home can sit on the same block as a brand-new build where an owner tore down and rebuilt. Both compete for a buyer who wants that address, so the right comp depends on which one your house really resembles. In Emigration Canyon, acreage matters more than a per-square-foot number built for a city lot.

The first week a home is listed is the week it gets the most attention it will ever get. Agents watching your neighborhood see it the day it goes live, and buyers with saved searches hear about it within hours.

A home that starts too high can lose that week. Buyers look, decide it costs too much, and move on. When the price comes down later, many of them read the price cut as a sign something is wrong with the house. Overpricing teaches the market to ignore a home.

Pricing too low has a cost too, and money left on the table at closing does not come back. Getting the number right from the start protects you from both. I explain more about that first stretch in why the first week on the market matters so much.

I taught school for eighteen years before real estate, and I still believe nobody should have to take a number on faith. I show you the sales I used, what I adjusted, and why. I offer to go through every comp with you line by line, or I can give you the short version and the three sales that matter most. Some sellers want every detail, and some want the bottom line.

Sometimes the number is not the one you hoped to hear. I will tell you anyway, and I will tell you why. Then the decision about where to list is yours.

You can see how pricing fits into the rest of my method on how I sell a home, read more about selling a home in Salt Lake City, or start with a Salt Lake City home value estimate.

How do you decide what to list a house for?

From recent sales of similar homes nearby, adjusted for what makes your home different, like a finished basement, updates, or a garage. I show you the sales and my reasoning.

Should I list high and come down later?

Usually not. The first week brings the most attention a listing will get, and a price cut later can make buyers wonder what is wrong. Starting at the right price protects that week.

Why is my online estimate different from your number?

The websites that estimate home values cannot see Utah sale prices, because Utah is a non-disclosure state and those prices are not public. A REALTOR can see actual sale prices in the MLS, and can see your home's condition and updates in person.

Does getting a home value estimate mean I have to list?

No. An estimate is information. What you do with it is your call.