pricing your home
DETERMINING THE VALUE OF A PROPERTY
We do not decide how much your home is worth, the market does.
The market tells us exactly where to price your property to sell and how to approach the marketing of your property. Here are the factors that will affect the value in today’s market:
PRICE
Pricing your home properly from the start is the deciding factor on how long it will take to sell it.
LOCATION
Location is the single most important factor in determining the value of your property.
CONDITION
The condition of the property affects the price and the speed of the sale. As prospective buyers often make purchases based on emotion, first impressions are important. We will help optimize the physical appearance of your home to maximize the buyer’s perception of value.
COMPETITION
Prospective buyers compare your property – both the condition and the price – to the other listings in and around your neighborhood. Those buyers will determine value based on properties that are listed or have recently sold in the area.
TIMING
Property values are affected by the current real estate market. Because we can’t manipulate the market, we’ll collaborate on a pricing and marketing strategy that will take advantage of the first 30 days your property is listed. The first crucial days are our best window of opportunity when buyers and their agents discover your property and are most likely to visit and make offers.
MISCONCEPTIONS
It is very important to price your property at competitive market value when we finalize the listing agreement.
BUYERS & SELLER DETERMINE VALUE
The value of your property is determined by what a buyer is willing to pay and what you are willing to accept in today’s market. Buyers make their pricing decision based on comparing your property to similar properties sold in your area.
ITS EFFECT ON THE MARKET
- A property generates the most interest when it first hits the market.
- The number of showings is greatest during this time if it is priced at a realistic market value.
- Starting too high and dropping the price later misses the excitement and fails to generate strong activity.
- Many homes that start high end up selling below market value.
- Historically, the first offer is the best one.
ATTRACT BUYERS WITH THE RIGHT PRICE
Pricing your property competitively will generate the most activity from agents and buyers. Pricing your property too high may make it necessary to drop the price below market value to compete with new, well-priced listings.
