How To Price Your Brooklyn Home To Sell Quickly

Home price correctly sells for more

It is so important to price your Brooklyn home correctly when you first offer it for sale. It is essential to take advantage of your home’s initial phases of entering the market because this is the time you will see the most activity. 

Some homeowners believe that they will set the home’s price higher than the market value to have some bargaining room. That is an inferior strategy because you create a situation where you are listing your home for more than it might be worth.

Proper pricing will attract the right buyers. 

Overpricing your home by only $5,000 could eliminate the right buyers from seeing your home. When buyers search for a home, they usually look in increments of $5,000 and will not look at houses above the maximum amount they want or can spend. In the recent seller’s market we have been experiencing, buyers feel there is little room for negotiation on the sales price. Multiple offers and sales prices over the asking price deter buyers from looking above their price range.

It is safe to assume that all Brooklyn Home Sellers want to achieve a quick sale on their home. It is stressful to keep your home presentable, leave for showings, and wait for an offer. This pandemic adds another stress level to the risk of having visitors in your home. You have to understand how to price your home because setting a price can determine your home’s length of time on the market. 

Extended time on the market can be a detriment to your sale.

Any home that stays on the market for a long time can raise red flags with buyers. It can also lead to a situation where the longer your home is on the market, the more you’ll end up being forced to lower the price to an amount that is lower than you anticipated. Statistically, a seller who overprices their home because they can “negotiate” a lower price ends up selling their home for less than if they had started with the correct price.

You need to know the actual market value of your home. Hiring a real estate professional with a proven track record of selling homes in your neighborhood is extremely important. The intricate differences from one community to another can make a difference in your price.

Let’s take a closer look at the right way to price your Brooklyn home to sell quickly and fairly. 

These are the components that go into pricing a home:

Comparable home sales

It is essential to carefully select the homes used to value property as an appraiser will. The appraisal can make or break a home sale. An appraiser must select homes within a ½ mile radius of the subject property sold within the last six months. If there are no comparables that meet these criteria, they can then expand the search. Review the homes currently under agreement to understand the price range of homes that have now gone under contract. You also want to know what your current competition will be by looking at the homes that are currently for sale.


Factors like the school district’s quality, comparable homes, and crime rates impact a home’s desirability. Also, the proximity of attractions, entertainment, shopping, and parks are important.


A buyer’s market and a seller’s market are two different situations that affect home value. In a buyer’s market, the supply of houses outweighs the demand making it favorable for a buyer to obtain a good deal on a home. A seller’s market is just the opposite. There is not enough supply to meet the demand.  Other factors that affect the market are interest rates, the local economy, and the national economy.

Size and Style

The size and style of the home certainly have an impact on price. Square footage and the number of bedrooms are a consideration for all buyers. Your home should offer the same or greater square footage and bedrooms than other houses in the price range. The style of home should also be conducive for the neighborhood. If your area is predominately contemporary homes, a log cabin may not appeal to local buyers.


A homeowner may want to raise the home price beyond what it’s worth because they did some remodeling. You’ll have to be careful here because while some upgrades can boost the home value, not all of them do. A buyer is less willing to pay the additional price for an over-improved home. Here is a link to an article that shows you the cost of a home improvement versus its value. When you make home improvements, you should consider the return on investment if you know you will be selling soon. You don’t always receive dollar for dollar back on improvements to your home.

I have found there are three factors that will contribute to a quick sale when establishing a price for your Brooklyn home:

  • Condition
  • Location
  • Price

You can control two of these factors, and one you cannot. You cannot change your home’s location unless you physically pick it up and move it to a more desirable location. 

The two factors you can control are the condition and the price. Making the necessary updates and keeping up the routine maintenance on your home makes a big difference when selling. If you have done all you can to improve your home’s condition and it still does not sell, the only thing you can adjust at this point is the price. 

Check out this blog post for a checklist to prepare your home to sell. 

What may not be a factor when you price your Brooklyn home? 

  1. The price you paid for the home. 
  2. The amount of your Zestimate.
  3. The amount you owe on the home.
  4. What your neighbor or friends say.
  5. The cost to rebuild today.

Sellers will set the price of their home, but buyers will set the value. They will be comparing your home to other properties that have recently sold in the area. Often, a seller will reject an initial offer because they feel it is too low to find out it was the best offer they receive on their house.

As the seller, you need to determine what you are willing to accept. 

In the industry, we have found that the longer your home sits available on the market, the lower the sales price.

When you price your Brooklyn home correctly, the most interest will be when it initially hits the market. You will have the largest number of showings during this initial period if you price at a realistic market value.

If you price your home too high and drop the price later, you miss the initial excitement, and you will not have as much interest in the property. 

Don’t believe the misconception that you can negotiate a lower price. 

f a home sits on the market for too long, buyers begin to think there’s something wrong with the property in the current market climate.

Before you price your Brooklyn home, it is imperative that you consult with an experienced and knowledgeable real estate agent who has a track record of pricing homes correctly. Don’t be afraid to ask the agent for references along with their track record. 

Ask the agent for the following information:

  1. What is the number of homes they sell per year?
  2. What is their list to sales price ratio?
  3. What are the days on the market for the homes they listed for sale?

Other factors to consider when interviewing a real estate agent should include:

  1. How long have they been an active real estate agent?
  2. Are they a full-time or part-time real estate agent?
  3. What is their marketing plan for your home?

But first and foremost, your real estate agent should understand the local market and your needs.

Unfortunately, unskilled real estate agents are willing to list a home at whatever the seller would like regardless of what the numbers show. 

Once you have found the real estate professional you feel is right for you, take heed of their advice on your home’s sale. Many people who do not practice real estate as their profession will want to give you advice.

Contact me, Charles D’Alessandro, your Brooklyn Real Estate Agent with Fillmore Real Estate. As a Brooklyn real estate agent with over 30 years of experience, I understand the local market and know how to price a home to sell quickly and fairly.

In the event our office is shut down; we are always committed to your safety during the COVID-19 health crisis in compliance with the State of New York public health policies. I can be reached by phone at (718) 253-9500 ext. 1901 or by email at [email protected].

Charles D'Allesandro

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