UNDERSTANDING MARKET CONDITIONS
The correct selling price of a home or Market Value is the highest price the market will bear. To assist you in determining the correct asking price I have provided you with a comprehensive market analysis of comparable properties that have been recently offered for sale in your neighbourhood.
By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from. We can be certain that we are not under-pricing the property.
By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months. This is the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.
While we naturally want top market value for your home, we can agree that there is a point where the price would be too high. By doing our homework diligently, we can get maximum dollar in a reasonably short period of time.
Pricing your property for an effective and efficient sale is the key starting point. When you decide to sell your property, you want to sell it for as much money as the market will allow. Pricing too high will keep your home from selling. A low price will keep you from receiving full value.
There are three main points to consider when pricing your property:
Know the market as the market determines value. Price your home competitively based on the price of homes that have recently sold and homes currently for sale in your neighbourhood.
Condition of Home
Buyers base their decision on the condition of the home as well as price. Take the time now to prepare your home to attract potential buyers.
Select a Sales Representative who brings the market to you. The market brings your price. The right Sales Representative is the one who knows the market, and can get you the best price possible. Be wary of the one who promises you the highest price just to get the listing. I have access to the latest information on market condition, from a city wide scope, right down to your street. Together you and I will determine the right list price for your property.
THE EFFECT OF PRICING
THE RESULTS OF OVER-PRICING
Many sellers believe that if they price their home high initially, they can always lower it later.
Often, however, when a home is priced too high, it experiences little activity. Gradually the price comes down to market value, but by that time, it’s been for sale too long and buyers are wary. On occasion, the price is dropped below market value because the seller runs out of time and the property sells for less than it’s worth.
THE IMPORTANCE OF EARLY ACTIVITY
As soon as a home comes on the market, there is a flurry of activity surrounding it. This is the crucial time when Sales Representatives and potential buyers sit up and take notice.
If the home is over-priced, it doesn’t take long for interested parties to lose that interest. By the time the price drops, a majority of buyers are lost.