Price the Home
The Market Evaluation
Your property has many values: one to the tax assessor, another to a lender or insurance company, and lastly a value to you, the owner. It also has different merit to perspective buyers, depending on their needs, desires and financial resources.
There are many factors that influence the market value of your property including: location, buyer demand and financing. The purpose of this presentation is to help determine an appropriate listing price.
Market value is described as “the price at which a willing seller will sell, and a willing buyer will buy, neither being under duress or abnormal pressure”. In setting the listing price, you should consider recently sold properties in your area with similar features.
A market evaluation supplies the necessary data to help you establish the best listing price. It does not limit the actual selling price of the property, however, it does provide a strong foundation upon which you may base your expectations.
The market data approach we use is based upon the established concept that a prudent buyer will pay no more for a property than it will cost to secure a comparable substitute.
Listings are carefully studied for their best marketing advantage and exposed to the maximum number of purchasers in the marketplace through a comprehensive marketing plan.
Coordination and development of sales strategy is a joint effort of each team member. Team members feel a personal responsibility to the property owner and take pride in their professionalism and the company’s reputation.
Weekly marketing meetings are conducted to inform members of the team of exclusive property listings and client requirements. Regular property tours are scheduled to expose each listing to all participating members of the local Real Estate Board.
Advertising and direct mail programs are utilized to maximize the exposure of properties listed by the company to prospective buyers. Property description sheets, sales materials, a sign program and publicity are all creatively handled by all team members.
Insistence on quality and consistency in all marketing efforts ensures credibility and adds strength to the image created for every property listed by the company.
Pricing Your Home For Sale
Proper initial pricing is the key factor generating enthusiastic reception from both the brokerage community and the potential buyers. All other marketing issues are subordinate to proper pricing.
In determining the proper asking price, ROBERT TAYLOR REAL ESTATE suggests you consider the following:
- The location, size and condition of your property are the primary factors which affect the market activity.
- The asking price should relate to recent selling prices of similar properties either in the immediate neighbourhood or comparable neighbourhoods. The price should not be related to other properties asking prices.
- A properly priced property generates great interest and showings during the first two to three weeks the property is on the market.
- After the initial activity, both seller and agent should reassess the number of showings and offers received within the first thirty days
- If there are limited amounts of showings and no offers, we would recommend the seller reduce the price. This will ensure your property is shown regularly and will generate offers.
Your property will sell quickly and fairly for both buyer and seller if it is properly priced and has access to showings.