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The 'Tough Talk' Home Sellers Need Regarding Pricing and Value

Per Brown Harris Stevens CEO Bess Freedman, today's home sellers need to set aside emotions—and some expectations—in order to accurately assess their properties' value.



"In 2021, when COVID-19 caused an exodus from urban centers and mortgage interest rates dropped to the range of 2% to 3%, home prices shot up in response to overwhelming demand and access to cheap loans. Today, as the Fed continues to fight inflation, mortgage rates are in the 6% range, and that means higher monthly payments for buyers. However, prices aren’t coming down enough to offset these challenges in many areas of the country ... Sellers need to accept the fact that their home likely won’t fetch the same price their neighbors commanded in 2021, because the market conditions simply aren’t there to support it." -- Brown Harris Stevens CEO Bess Freedman

In a recent U.S. News and World Report article penned by Freedman, the CEO provided several tips to sellers, highlighting the importance of research, hiring experienced appraisers and real estate agents, and responding to market conditions. "By doing your research, remaining flexible, and heeding professional advice, you can navigate the home selling process and come out with a successful sale," she wrote.


Read the full U.S. News article here. To learn more about Bess Freedman and her background, click here.

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Jeronimo Sekiro
Jeronimo Sekiro
29 aug. 2023

Just stumbled upon this eye-opening article about the realities of home pricing. It's a must-read for anyone thinking to sell your house. Getting the price right from the get-go is vital, and this 'tough talk' might be the reality check some of us need.

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I completely agree that a conversation should always follow certain rules and be focused and specific in its content, which will allow you to demonstrate yourself more clearly. The last time I rented my house, I met a Frenchman, and since I don't speak French, I was very helpful to have an English-to-French translator https://www.translate.com/english-french, which also allowed me to convey key information to him, which he understood, and gave me a completely objective and balanced answer. It's good when people don't have any language barriers and can easily communicate in any language, it makes life much easier, especially for the seller and the buyer.

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