Whatever your reason may be for selling your home this year, you need to follow some simple rules to help you decide on the listing price of your home. As a real estate agent, I generally recommend a Comparative Market Analysis of your property. A CMA informs you of recent sale prices in your neighbourhood as well as what homes may have sold for in your surrounding area that had the same type of features as your home. Some things to consider are square footage, number of bedrooms, baths, upgrades etc.
Home owners tend to think that their home is the best one on the street as human nature would dictate, however, they need to remember that buyers will be looking at many homes and doing comparison shopping before deciding on that one home they want to
buy. Most buyers when looking for a home usually consider the following; 1. lower price or 2.more features and benefits for the
same price.
Dangers of listing too high!
Once you have reviewed the CMA you will be ready to decide on a listing price. If you wish to go against what the Market dictates, you should be prepared to have your home sit in the market for a long
time without getting any offers or worse loosing money because the listing goes stale. The first couple of weeks will generate the most interest. You should be ready to reduce price if no offers are coming but you are getting a lot of people coming in to see your home.
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