While it’s safe to say that no one knows the exact price that a home will sell for, most real estate agents can predict an accurate price range.
They do that by developing a comprehensive Comparative Market Analysis (CMA). This evaluation summarizes similar active, under contract, and sold properties in order to present an accurate price range. In addition to determining a property’s market value, the CMA also highlights how that property will be marketed.
As a matter of fact, part of the plan for selling a property might include reducing the price at certain date intervals (always staying within the price range) to attract home buyers who are watching and waiting to make an offer.
Home sellers can increase their chances of selling their home by concentrating on the Five P’s For Selling Real Estate:
Product. In today’s real estate market, most buyers are looking for their special home, the one that meets their needs and wants and is picture perfect inside and out.
Properties. The key is to be a top contender. Do that by comparing your home with the competition such that if you were the buyer, you would choose your home.
Perfection. Give your home a makeover when you are ready to sell so that every room sparkles and shines. Consider hiring a home stager to assist with this task.
Promotion. Make sure your agent is using all the online and print marketing methods to promote and advertise your home.
Price. After you and your agent determine that list price range, have your agent take you to see your competition to make sure that your list price is not out of line.
It is important to note that all of the P’s are part of an overall formula designed to sell your home. They are all connected and may require individual modification to arrive at an optimal and successful home selling program – and successful real estate professionals know how to make these P’s work best for you.
Larry Stoller is a broker and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com, RealEstateFive.com