So...What Goes into Pricing Your Property for Sale?
Thinking about listing your house for sale? When it comes to selling your home, you are embarking on a transaction involving one of the largest assets you have. This should not be a DIY project and should be trusted to an expert. In many cases, the savings on commission is the number one factor in not entrusting the sale of your property to an expert. However, statistics have shown without professional guidance, properties have longer days on market (DOM) and lower selling prices. So let us examine the primary factors that goes into pricing your property for sale.
Assessing the true market value of a property is of the utmost importance when selling a home. A real estate expert can offer a Broker’s Price Opinion (BPO). This is an analysis of comparable properties that are currently for sale (the competition), properties that have sold within the past six months, and properties that are currently under contract for sale.
This analysis provides the value of a property based on current market conditions, experience, and research. A true BPO, provided by a real estate profession is more accurate and dependable than computer-generated algorithm or mass-produced analytics.
Recognizing Housing Market are Local
Not all housing markets are equal. St. Johns County Florida remains highly active during these trying times. Housing values differ from regions, counties, and states. All real estate activity is local.
The Law of Supply and Demand
Determine if current market conditions indicate a buyer’s market or a seller’s market. If interest rates are low, a buyer can afford more house for less money. If interest rates are high, or inventory is low a home seller can negotiate for and get a high selling price.
Generally, one would not think of the importance of curb appeal when pricing a property for sale. However, the old rule of thumb being “you don’t get a second change to make a good first impression” applies to the overall success of pricing and selling a property. Attractive curb appeal indicates to a perspective buyer how well a home is cared for. Good curb appeal is warm and inviting. This first impression stays in the minds of perspective buyers throughout the entire showing. According to the National Association of Realtor (NAR), attractive curb appeal can add 7% to 14% to the selling price of a property.
At First Coast Realty in St Augustine, Florida, we offer home sellers a complementary Brokers Price Opinion, not computer-generated data sheets. We recognize that all real estate is local and provide consumers with monthly market updates, based on the activity from the St. Johns County Multiple Listing Service. We have Real Estate Associates that specialize in working with both home sellers and buyers. We have the knowledge and expertise to get the highest possible sales price, in the least amount of time, with minimal inconvenience to a home seller. Reach out to us on Facebook or Twitter and we would be happy to get you your complimentary BPO. Or, to talk to our property managers call/text today 904-494-8408 or email email@example.com
About the Authors: The video "So...What Goes In To Pricing Your Property For Sale?" was provided by Broker and Broker-Associate Gene and Libby Johnson with First Coast Realty Inc. Our agents go through extensive training on pricing properties for sale, not by other agents, but by licensed property appraisers. We can get your property sold for top dollar and in the least amount of time possible. We service St Augustine, Palm Coast, Palatka, and Jacksonville areas.