Our philosophy is to start a little bit high and move the asking price down if you are not getting the number of showings and feedback you expect. We call this approach a reverse auction. In other words, start high moving the price down until you find your buyer. This way the market decides your value and not a 6% agent trying to score a fast commissionThe fee charged for services performed, usually based on a percentage of the price of the items sold (such as the fee a real estate agent earns on the sale of a house). ….
To assist you with your pricing decision, Competitive Marketing Analysis (CMA) reports of all real estate activity for your market area are provided. This includes homes sold, active (for sale), pending (under contract), and canceled, expired or other lesser used statuses for your market area.
There are lots of ways to look at market activity in your market area to determine the best asking price. You should consider, home size, the number of rooms and bathrooms, garage spaces, pools and other outdoor amenities, lot size, property type, age and condition any other unique features in making your pricing decision.
The data in the CMA is from the MLSA clearinghouse through which member real estate brokerage firms regularly and systematically exchange information on listings of real estate properties and share commissions with members who locate purchasers. The MLS for an area is usually operated by the local, private real estate association as a joint venture among its members designed to foster real estate brokerage services…. system and is the only reported database of residential real estate transactionApplies to any business dealing. In real estate, it is an instance of exchanging ownership of a property. … activity. The historical selling prices of homes combined with other current market information are reviewed to derive your asking price. We produce as many CMA’s as required to fully understand your market and review this information with you and provide our advice and opinion.
Keep in mind you can only control two major elements of your selling proposition; price and condition. After you have completed all of the cleaning and restoration activities to sell your home price becomes the determining factor of when your home will sell.
There is an old saying that “time cures all in real estate” meaning given enough time, in some cases years, your home will sell for what you want for it. This means if you wish to sell it faster reduce the price or make it more attractive.
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