Pricing your Property.
The single most important decision you will make with your REALTOR® is determining the right asking price for your property.
On average, serious buyers look at about fifteen properties before they make an offer. Doing so gives them a basis for determining how competitively a property is priced, both in terms of the market generally and what they are looking for specifically.
If you overprice your property you’ll usually lose serious buyers even if they otherwise love it. Experience shows that buyers usually do not make what they consider to be realistic offers on overpriced properties because they assume that doing so will just be a waste of time.
The Benefits of pricing it right.
- Your property will sell faster because it is exposed to more qualified buyers.
- The closer to market value, the higher the offers.
- Your home won’t lose its “marketability”.
Determining your home’s value.
- Your assessed home value is not a reliable indicator of your home’s value, for one thing it is based on as assessment done the previous year.
- The market ultimately determines the true value of your property.
- Get a comparative market analysis if your home.
Comparative Market Analysis.
This analysis looks at market data and will give you an idea of what the market is telling you your home is worth. It compares the market activity of homes similar to yours in your neighbourhood. Those that have recently sold represent what buyers are prepared to pay. The homes currently listed for sale represents the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.
Your Realtor will prepare a comparative market analysis of your home based on the most current market information.
Together, you and your REALTOR® will establish the proper list price for your home.