What's your home worth in this Shifting Market? In this video, Kyle Whissel will help you learn how to value your house correctly by understanding what factors influence home prices. So whether you're a first-time homebuyer or a seasoned real estate investor, this video will teach you everything you need to know about how to value a house!

If you're putting your house on the market today it's really important to price the home properly. And I'm going to give you a little tip that a lot of people don't know about when it comes to pricing your home. I'm Kyle Whissel with Whissel Realty group. And today I want to dive in and talk about one, how important it is to price your home correctly, and two, this tiny little tweak that you can make when pricing your home that can make a really big difference.

One of my coaches says, "Tiny hinges swing big doors." This is that tiny little hinge that's going to swing a big door for you. In today's market that has shifted, it's so important to price your home properly. You've really got to work with an agent who's going to dig in to what's happening in your local market. Who's going to dig into the comparable home sales in the area. And one of the things I'm starting to look at too is not just what has actually sold, I want to see what didn't sell.

So we're starting to look at the homes that either canceled or expired, which means they did not successfully sell, because that's going to tell me a lot too. That's going to tell me that at that price, that home didn't sell, which is almost as valuable as knowing what homes did sell for. So we're expanding the way that we are comping out homes and "comping" again is just realtor jargon, when we say, "We comped your home," that means we looked at what did comparable homes sell for in your area to determine how we want to price your home. So anytime you hear an agent say, "We comped it," or, "This is what the comps say," understand "comp" is a short word for comparable homes for sale. But now let's get into this little tweak. This little tiny change, this tiny hinge swinging the big door.

What you'll see a lot of real estate agents do is they'll price a home at $799,900. And in their heads, they're like, "Oh, well psychologically, it's less than 800, "so that's going to help attract more buyers to the table." Well, if it was just about psychology, maybe that works. But let's think about reality. And the reality is buyers are searching for homes on websites. They're using something like whisselrealty.com, they're using Zillow, Redfin, Realtor, there's a million real estate websites out there. Well, guess what? When you search on a real estate website, you are setting in a range of prices that you are comfortable with. You're going to go in there and you're going to set a range, say, "Hey, I want to see everything for sale "from 500,000 to 800,000." Or you're going to say, "I want to see everything for sale from 800,000 to a million." Well, guess what, if you priced your home at $799,900, yes, you show up in that 500 to $800,000 search.

But guess what you don't do? You don't show up in the 800,000 to a million dollar search. That's pretty important. So regardless of what website, we were checking them right before we shot this video, the lower the price point, the lower the brackets are on these websites. Redfin, for example, is doing like $25,000 brackets up to half a million. Then it's $50,000 brackets up to a million. Then it's $100,000 brackets above that. So be conscious if you're anywhere near one of those brackets, so basically in my eyes, if you're anywhere near a $25,000 mark, you don't want to price this little $100 below what the true number is. So if you're thinking of pricing it at 949,900, don't do that. Price it at 950, because buyers will search up to 950, and other buyers will start to search at 950. So make sure you don't make that mistake. You don't need to get cute with it, and price it $100 below because that's actually going to cause you to show up in less home searches.

The one and only time, we actually just priced a home in Sante, which is one of the areas we sell a ton of homes in. We did intentionally price it $100 below, but why? Because we're the most expensive home in the city. We don't have anybody searching above that price point. So I don't have to worry about it in that case. And in that case, I do psychologically want to make the number look a little bit lower. So if you're at the very tippy-top of the price in the particular neighborhood, maybe you do it. But outside of that, you don't want to do that, because you're going to diminish the number of home searches you show up in, and that's the last thing you want to do when you're selling your home.

So if you'd love to talk more about selling your home and some of the other little tiny tweaks we can make, little tiny hinges to swing big doors, and help put more money in your pocket, give us a call or shoot us a text at the number down below. Thank you so much watching. I'm Kyle Whissel with Whissel Realty group. I'll see you soon.

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