What is the value of my home?
Real estate agents do not determine the value of your home, the market (consumers) ultimately decide what your home is worth. My job as your agent is to locate the sweet spot that allows you to obtain the highest possible price for your home. I do this by finding comparable properties with similar characteristics that have recently sold in your area while also comparing them to current pending and active properties. Local supply and demand trends are also key determinents. I then analyze this data in an effort to forecast what the buyer of your home will be willing to pay.
Location and condition play a significant role, along with neighborhood and area amenities such as access to major transportation, schools ratings and shopping. Price adjustments are made for differences and compensating factors.
Pricing a home can be subjective because part of the appeal of a property is its unique individuality. This is why online and computerized estimates do not tell the complete story of a home’s value. The value of a real estate professional is their contribution in understanding the distinctions between the individual characteristics of a home.
By pricing your property correctly, you stand a greater chance of finding a motivated and qualified buyer.