For those who didn't see the video on www.TuesdayMorningCoffee.com I explained absorption rate positioning. It's actually a very simple concept and I'm surprised more agents aren't using it. In essence you look at how many comparable homes are currently on the market, how many of them have been selling per month, and then calculate your odds of selling. For instance, if there are 42 properties in the $250-300K price range in North Murfreesboro and 3 are selling each month it will take approx. 14.3 months for all those properties plus yours to sell. In this case the odds of selling within a month are 7 percent.

Now realistically compare your home to the competition from a buyer's perspective (these are not necessarily homes in your neighborhood but all the homes your "profile buyer" will be considering). This allows you to set your price according to how long you’re willing to let you home sit on the market.

Based on this example the top 3 homes, what I like to call "the prettiest girls at the dance", should almost certainly sell within 30 days. The top 6 homes will stand a 50% chance of selling within 30 days, while the top 9 competing homes are looking at a 33% chance of selling within a month. Assuming you’re in a position to sell and your agent is marketing the home properly, the ability to sell rests in your hands. 

You can price the home to sit with the others or you can price your home to sell and move on. In this market you'll usually make up the difference of pricing competitively on your new home anyway.