The importance of counseling our sellers to price their homes at current market value is more important than ever due to the technology widely used by today's buyers. The widespread use of technology has formed fundamental changes in how home purchasing decisions are made. For anyone that owns real estate or works in a related industry, it is important to understand how the increasing use of technology influences both home pricing and subsequent sales. The primary impact of technology upon pricing is when buyers input their pricing search parameters. When a buyer uses a website such as Realtor.com or Zillow, they enter a price range of homes to view. The computer shows the buyer only the price range that was chosen; therefore, homes priced above that range won't be seen. Likewise, when a Realtor establishes an auto-search to email their clients, only those homes in the indicated price range will be seen. Those sellers that have overpriced their home in order to leave some negotiating room may have just ensured that their listing will not even be considered by the buyer. This type of search is fundamentally different than the days when buyers thumbed through magazines of listings, hunting for homes that might suit them and maybe stumbling across an overpriced listing. To buy your home, the buyer must be aware that it is in their price range. In a technology driven age, this is achieved by pricing at current market value so the search engines find your home. The next important impact technology has on pricing comes when buyers are evaluating homes that are of interest to them. From their computers, buyers easily sort through all listings that are in the buyer's indicated price range. At the buyer's fingertips are photos, measurements, square footage, maybe even movies or Virtual Tours. Comparison shopping has never been easier. If the home does not seem to have enough value for the price when compared to others on the market, it is simply deleted and never seen in person. This is a very different experience than buyers driving around to see every home that might be interesting because the comparisons between homes are made side by side on the computer screen. Only the homes priced right for their current market value will be seen in person. This is a challenging market for real estate sellers. There is more, far more, housing inventory than there are buyers. In these conditions, it is inevitable that buyers will sort through available homes using the tools available at their fingertips and pick the best values on the market today. Some Sellers will price their homes at current values and sell. Others will overprice their homes and sit. By understanding the impact of technology on buyer's choices, seller's can make a more informed choice when pricing their property.                                                                        By Chip Trautman                                                                        Associate Broker                                                                        Gateway Realty, Inc.