Seller's Guide
Determine Property Value
Your property has a range of values perceived by a variety of sources: the county tax assessor, your lender, your insurance company, and you, the owner. It also may have a completely different value to prospective buyers, depending on their needs, desires and financial resources.
Pricing a property is not a one-time task, especially in a constantly changing market with highly educated Internet based buyers. The sales team members leverage the key elements in pricing through staying abreast of market changes such as new listings, recent transactions, overall inventory shifts, price adjustments or improvements to previously listed properties that could have an impact on the perceived value of their Client’s property. Moreover, sales team members are reviewing supplementary market drivers on properties similar to their Client’s property. These include average days on the market, number of showings, and whether any offers have been made. The sales team members take this data into consideration in their consultation with their Clients on necessary pricing corrections to generate interest and excitement.
The listing price you ultimately select will be an educated estimate of what you think those aggressive "market test results" are likely to be once your property is placed on the market. To aid you in the selection of a listing price, we utilize all of the market research outlined above and develop a Competitive Market Analysis, which includes our opinion of value. Most buyers engage in comparison-shopping, and the Competitive Market Analysis focuses on properties that are competing for the attention of those buyers: properties that have recently been sold, properties currently in escrow, and properties now on the market.
The greatest opportunity for a full-price offer comes in the first three weeks a property is listed on the market. Our sales members’ job is to use their expertise and professional opinion to analyze market information and make recommendations to their customers. One of the best ways to determine the price you can realistically obtain for your property is by aggressively marketing your property at various market based price points. The market will dictate the final value and sale based on supply and demand.
Please click here to request a Competitive Market Analysis and our opinion of value to assure that your property is properly priced to sell.
