Pricing a property is a skill. If you’ve ever wondered how a realtor determines the listing price, we’re about to let you in on a secret. It’s determined by a combination of cold, hard numbers and then adjusted based on professional experience.
The right price for a property is going to be different for every person. The reason for that? The goal of the seller has a massive impact on the price.
Agent Research
Firstly, pricing a property begins with research. Crane Realty’s agents research the property and the surrounding areas. Next, they put together a Comparable Market Analysis or CMA. The CMA is helpful to the seller for a few reasons. For instance, it will help to quickly compare similar properties while the agent explains any additional price adjustments.
Seller Research
Meanwhile, a seller needs to do some research of their own. We’ll provide a net sheet. This is a helpful tool for figuring out how much you need to walk away with after closing. (More on that here!)
Assessing Goals
When our listing agent meets with you, they’ll go over the price range that your property is most likely to sell for. Then, they’ll discuss your personal objectives as a seller. What are your needs? What is your timeline? How much do you need to net at the end of the process? At that point, the price recommendation comes down to professional experience. Above all, we strive to help you achieve your goals through education and expertise.
So, if you’re thinking about selling, let us know! We’d love to discuss your real estate dreams. If you’re still on the fence or trying to determine whether selling is worth it, snag a free home valuation! With all that’s going on in the world, we are more than happy to do a home valuation or home evaluation (yes, the two are different!) via Zoom or FaceTime should it be more convenient.
When listing we also use 3D Imaging, which allows buyers to walk through the entire home virtually. Get in touch if you’re interested in learning more. Crane Realty is here to help make selling your home a simple process!