How To Price Your Listing So It Sells For Top Dollar and In A Timely Fashion from Ken Brand on Vimeo.
I’m sharing the why’s and what’s and how’s of creating a useful CMA (Competitive Market Analysis) for pricing your property. The goal is to sell it for the highest possible price, in your desired time frame.
Experience has shown that Qualified Home Buyers comparison shop. Typically, they will define a price range and an area or areas that they are interested in, the style and design, desired amenities, etc., and they go shopping, looking at pre-owned homes and New Homes.
After viewing all of the available homes that meet their criteria, a buyer will narrow their choices down to a short list of one or two homes.
In this day and age of Buyer Representation, the buyer’s representative will prepare a Competitive Market Analysis (CMA) to assist the buyer in the decision making process and offering price. At this point the buyer…having viewed all of the available homes (competition) will want to know..what similar homes have actually SOLD for, average number of Days on Market, Price Per Square Foot and List Price to Sales Price ratio.
This research is used to help determine their offering price and ultimately their own limits to what they feel a home should sell for relative to it’s competition.
Also, once the Buyer and Seller agree on a price and the buyer’s mortgage is being processed, the lender will send an appraiser out and they conduct the same research.
What we provide is the research on homes that a buyer interested in viewing your home may also consider and data the appraiser will also look at also.
By reviewing this market data we can select a price that will position your home competitively in the market place so we can meet your goals.
If there’s anything we can do for you, give me a call: Ken Brand 832-797-1779
