SELLER'S HOME | Determining the list price | Preparing your home | Bring on the buyers | Contract negotiations | Celebrate a closing

So what the heck exactly is a market analysis anyway? Well, I will tell you! It is a critical component of the listing process. It's more than just a couple of "comp sheets." 

To really understand what the true market value of your home is and what the estimated time on the market will be, there are many layers of information that need to be analyzed. Of course the comparable homes that have sold in your area will be an important factor. But you'll also want to consider market trends in your community and your specific neighborhood. Your community's schools, governmental bodies, politics, industry, services, and taxes will also impact the value of your home.

Your agent should provide you with a detailed Market Analysis. A good agent will most likely need to meet with you two times. The first to introduce themselves, to see your home, and to make sure they have all the specific details about it that will be necessary to conduct a thorough market analysis. Then, a second time, to share with you, the data they have collected and analyzed. They should focus on your needs, and discuss the way they plan to market your home, and advise you as to their pricing recommendation. Then you will select the right listing price for your situation.

Determining the Optimum Listing Price

There are many factors that will impact this number:

• How quickly you want to sell


• The location of your home


• The condition of your home: Is it move-in ready? Have any updates been done?


• The homes on the market that will be your "competition"


• What homes similar to yours have sold for: the price that a buyer was willing to pay


• How your community has been economically affected by the last few years


• Where the market in your area is headed

Your REALTOR® will help you interpret and digest all the information they have provided, and you will, together, determine the optimal plan in terms of price, timing and terms for the sale of your home.

SELLING A HOME:
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