Real LI

Buying and selling real estate in the communities of Long Island

Redfin Price Whisperer tool helps home sellers arrive at price

National realty brokerage Redfin has introduced the Price

National realty brokerage Redfin has introduced the Price Whisperer tool in August 2013 to help prospective home sellers arrive at an asking price. (Credit: Handout)

Redfin, a national real estate brokerage, recently rolled out the Price Whisperer, an online service that gives sellers feedback on their asking price from house hunters who are seeking similar-style homes in their area. “It allows sellers to test the waters,” says JD  Pulice, a Redfin agent,  known as Jeanette, who works out of Farmingdale.

How does it work? The seller submits an inquiry on the Redfin website, providing their address, which is not published, and the desired asking price. A live agent is supposed to respond. He or she will obtain photos and finalize the asking price. The listing, which is sent out to 250 local buyers, is tested for two days. Redfin will then provide the seller with the results.

Since this is a relatively new service in a few test markets, including Long Island, there’s not feedback yet. However, Katy Klein, a Redfin spokeswoman, says, “So far, all the homes that have closed and used Price Whisperer sold for slightly more than the price they tested.”
 

Tags: Redfin , Price Whisperer

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