Determining the Value of Your Home
Pricing your home is both an art and a science. Achieving the optimal price is the result of objective research into comparable properties and a feeling about your property and the current market. Below are some tips about setting your list price.
Request a free Comparative Market Analysis
The Right Price Should…
- Attract buyers
- Allow you to earn the most money possible
- Help you sell as quickly as possible
The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. It’s important to remember that, although the price is set by you, the value of the home is determined by the buyer. Overpricing is a common mistake that can cost you in the end.
The Importance of Proper Pricing
- Faster sale and less inconvenience
- Exposure to more buyers
- Increased Realtor response
- More advertising/sign calls
- Attracts higher offers
- Means more money to seller
- Avoids being “shopworn”
What really matters is how your home compares to others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.
Common Reasons for Overpricing
- Over-improvement
- Need
- Purchasing in higher priced area
- Original purchase price too high
- Lack factual data
- Bargaining room
- Move isn’t necessary
- Assessed value
- Emotional attachment
- Opinion neighborhood
We Can Help You Set Your Price
We’ll provide you with a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMA is performed by comparing previously sold homes in the area, and currently active homes to know your competition.
Our Pricing Philosophy is…
~There is no “exact price” for real estate
~We don’t tell you what we think your home is “worth”
~The market determines value… together we determine the price
~You determine the price based on the factors you control:
- Marketing time
- Financing alternatives provided
- Condition
- Exposure method
