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• The Seller's Role
• Pricing Your Home
• What is Your Home Worth?

Pricing Your Home

What factors influence the pricing of your home?

The real estate market is constantly fluctuating, so pricing is not an exact science. Rather, it's a reasonable figure derived from a number of different components, such as:

• The status of the current real estate market
• The expertise and market knowledge of your real estate representative.
• Hard facts such as lot size, square footage and condition of your home.
• Desirability factors, including location, special amenities and property attributes.
• Selling and listing prices of comparable homes.
• A sophisticated real estate marketing plan.
• Your level of motivation.

It's important to note that the following conditions do not affect your home's price:

• The profit you wish to make from the sale.
• The amount of money you've spent on improvements.
• What other sources, such as friends and appraisers, have told you it's worth.
• What you originally paid for the home.

When setting a price, why not ask for the moon?

Make no mistake, we want you to get the best possible price for your property. However, when a home is priced too high for the market.

• It attracts lookers, not legitimate buyers.
• It implies that you aren't motivated to sell.
• It reduces the number of showings.
• It helps the competition look better.
• If it doesn't appraise at the higher price, a buyer may not be able to secure a loan.
• You may ultimately have to drop your price below market value in order to sell.

As the graphic on the left indicates, the best offers often come when a property is newly listed - if priced to high, it's difficult to create the momentum necessary to sell your home at the highest price in the least amount of time.