Today’s consumers are comparison shoppers. Although eager to achieve the best possible return on their hard earned investment dollars, they will shy away from properties that are listed too high or too low.
Listing above market value, you will more than likely sell your neighbor’s house instead of yours, or at the very least, risk a lack of potential purchasers visiting your home. By listing too low, you create the impression that you are desperate for the sale, or that something is seriously wrong with the structure.
Your Real Estate Agent will provide a Comparative Market Analysis (CMA) that includes information on competitor listings, properties that have recently sold, and those that are currently pending.
Factors affecting the price of a home:
- The property’s location and lot size.
- The home’s condition, size and age, and any improvements you have made.
- Review of the assessed value of your home, taxes, and utility costs.
- Repairs required.
- Economic conditions
- Supply and demand in the local housing market
- Seasonal influences
- Local schools
- Average home prices in the neighborhood
- Your home’s extras — pool, fireplace, central air, etc.
Buying or selling property in today’s fluctuating and competitive marketplace takes industry knowledge, a proven track record, and an expert opinion. It also takes dedication, commitment and the ability to achieve the goals set before you. When discussing the critical factors in the sale of any property, your Real Estate Agent’s expert opinion will guarantee that your home is accurately positioned for market dominance. In the end, it’s still your choice as to pricing. However, by taking into account years of professional experience and real estate wisdom, you increase the possibility of selling your home within the critical first 30 days for the highest possible sale price, or achieving a fair market price for the home you are purchasing.