First, it is important to understand that only the market can determine the ultimate value of your home. That said, choosing the optimal list price is essential to maximizing your home’s value. If you price too low, you risk not getting as much as you can for your property, but price too high and you risk losing potential buyers who may think your property is out of their price range and you help your competition sell faster.
Determining the OPTIMAL list price is, in part, simple math, but for the most part it is a strategic process that requires extensive market knowledge and research. An in-depth Comparative Market Analysis (CMA) will tell you what similar properties have sold for recently, but to effectively price your property it’s equally important to consider every similar home on the market to understand exactly what your competition is. In addition, expertise in both the local and national market conditions is paramount to arriving at the optimal list price.
Pricing your home right the first time will result in more exposure, more showings, more offers, and ultimately the highest price for your home.
For your free, no-obligation home evaluation using our comprehensive pricing strategy, please contact us today!