If you are selling your home, you want the best possible price and terms. The idea is to get the maximum price and the best terms during the window of time when your home is being marketed. My goal is to get you where you need to be in a timely manner.
I pride myself on keeping a close eye on the market by gathering and analyzing statistics on a regular basis. The Comparative Market Analysis will provide you with the information needed to make an educated decision about pricing your home.
The CMA Consists of:
Most activity will take place within the first 21 days. Approximately 78% of homes sell in the first 30 days of listing, or within the 30 days of a price reduction that brings their home into the right price range. Your odds of selling drop to about 11% between 30-60 days and after 60 days they drop to about 5%. Your best chance of selling your home for the most money is in the first 30 days!
Your objective should be to enter the market in a position that will attract many qualified buyers and ready prospects.
Prospects will wonder why it has been on the market so long or if something is wrong with the property, even after you lower the price.
Buyers will not rush to make an offer on an over priced listing. One of the major benefits to pricing to the market, rather than above the market, is that you retain the most leverage in negotiation. Both in negotiating initial purchase price, and in negotiating the inspection, which can become very costly if a buyer knows your home has been on the market longer than average.
As you can see, pricing your home correctly will make a tremendous difference in your bottom line. I make it my business to know the market and help my clients price their home to sell for the most money in the least amount of time. Just ask my clients.
Do Not List with the Realtor who will price your home at the highest price. You should expect a Realtor to suggests price range, but there are some Realtors who will suggest a very high price. We call that “buying the listing”. Ultimately they will pressure you to lower your price after they have secured your business.
The existing pool of prospective buyers determines a property’s value based upon:
Factors that have little or no influence on the market value of a house include:
The value of your property is determined by what a BUYER is willing to pay in TODAY’S MARKET based on COMPARING YOUR PROPERTY to others currently for sale in the market.