Setting Your Price
One of the greatest myths in real estate is that you should select the agent who proposes the highest price for your home. The agent does not determine the selling price of your home (that’s up to you and the Buyer) – they simply provide expert analysis of the past and current market data to assist you in determining the listing price.
There is no exact price for real estate The market, buyers and sellers, determine values. You determine the listing price for your home, with your agent’s advice and counsel, based on many factors:
- How quickly you want / need to sell
- Market sales and pricing trends
- Unbiased comparisons of your property to others on the market or sold
Select your agent based on your comfort level and their credentials and track record – and then use the market data provided to you to decide on a listing price.
Dangers of overpricing
- The “right” buyers won’t see your home
- Home may become “stale” – buyers may wonder what is wrong with a home that is on the market for a long time
- Buyers may see price decreases as a sign of negotiating weakness
- You will miss out on the excitement that is generated by a new listing – most activity occurs within the first 30 days of a listing
Competitive Market Analysis (CMA)
During our initial meeting, we will provide you with information regarding recent sales of similar homes in your neighborhood, properties currently under contract, and those currently listed for sale. Based on this we will have a general idea of our recommended listing price for your home. You can also request a CMA online to get a general idea of what your home is worth.
We will tour your home and make note of improvements, upgrades, and other factors which differentiate your home from the past and current sales data. Based on this information we can provide a more personalized analysis to review with you.
We will work with you to help you understand the local market. Our goal is to help you price your home competitively to ensure a timely sale at an appropriate price