Redfin Home-Seller Survey Reveals Shift in Pricing Strategy; Economy Remains Top Concern

Seattle, WA – February 8th, 2016 (BUSINESS WIRE) Home sellers this season are taking a more grounded approach to pricing than they did in the fall, according to Redfin (www.redfin.com), the next-generation real estate brokerage. In the latest Redfin Real-Time Home-Seller Survey conducted last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from Redfin’s October survey. Thirty-two percent said they would price high, down from 34 percent.

Redfin

“We’ve seen a shift in the right direction toward pricing in the middle range to better encourage multiple offers,” said Will Fassinger, a Redfin agent in Atlanta. “There’s always the fear of becoming a stale listing that scares buyers off or pricing so low that you don’t attract the right buyers. We advise sellers that we don’t have to negotiate a ton to get the preferred price.”

Economy and inventory are top concerns:

General economic conditions continued to trouble sellers, with a third citing it as a top concern. Almost as many were worried about finding another house to buy, echoing the results of Redfin’s October seller survey. A chronically low inventory of properties for sale has created a housing logjam.

“Even with surging home prices, listings were still down three percent in January from a year ago,” said Redfin chief economist Nela Richardson. “Sellers are worried that today’s buyers won’t pay enough for their current home to finance their next-level house.”

The Redfin Real-Time Home-Seller Survey is a companion to the quarterly Buyer Survey and Agent Survey. Click here to view the full report, including data and charts. Additional data is also available by contacting press@redfin.com.

About the Survey:

This survey was conducted January 17-27, 2016 with responses from 605 home sellers in 25 states.

About Redfin:

Redfin (www.redfin.com) is a next-generation real estate brokerage that represents people buying and selling homes. Founded by technologists, Redfin employs a team of experienced, full-service real estate agents who are advocates for their clients, earning customer-satisfaction bonuses, not just commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don’t pay brokers a commission. Redfin also offers online tools, built by its own software engineers, that make the entire process of buying or selling a home easier. The company serves more than 80 major markets across the U.S. and has closed more than $25 billion in home sales. In 2014, Redfin was included in CNBC’s Disruptor 50 list as an innovator that is revolutionizing the real estate industry.

Contacts:

Redfin Journalist Services:
Jon Whitely
(206) 588-6863
press@redfin.com

Wael Ghonim (TED.com) Discusses How To Design Social Media That Drives Real Change

Wael Ghonim helped touch off the Arab Spring in his home of Egypt … by setting up a simple Facebook page. As he reveals, once the revolution spilled onto the streets, it turned from hopeful to messy, then ugly and heartbreaking. And social media followed suit. What was once a place for crowdsourcing, engaging and sharing became a polarized battleground. Ghonim asks: What can we do about online behavior now? How can we use the Internet and social media to create civility and reasoned argument?

TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less).