So you have decided to sell your property. Congratulations! We are thrilled to partner with you throughout the home selling process.
When Should I Sell?
You should establish your general time frame for selling. If you need to sell quickly, we can speed up the process by giving you a complete market analysis and action plan to obtain your short term and long term goals.
What Is the Market Like?
When you work with us, you can be sure that you will have our knowledge, expertise and negotiating skills at work for you to arrive at the best market prices and terms. We will conduct at comparative market analysis (CMA) which puts your home side-by-side against other recently sold properties that are similar in location, condition, and size.
A detailed CMA may run 30-plus pages long and cover:
A deep dive into the subject property, including any recent photos and new features worth mentioning
Somewhere between 10-12 comps within a certain radius of the property and details for each
A summary page of what each comp sold for
A map of all included listings
Charts and tables that show market trends data such as inventory numbers for the area and average price per square foot
Goal of Comparative Market Analyis strategy: To price your home based on current market trends rather than guesstimates or wishful thinking. The best indication of what a buyer will pay for your home today is what a buyer already paid for a similar home not long ago. Comps provide an objective benchmark and point of reference to determine a price range. A seller can then get into the specifics relating to where their home exceeds or falls short of the comps as far as home condition, location aspects, and special amenities or additions.
An alternate pricing method is the Real Estate Pricing Pyramid. This pricing strategy considers the relationship between your home’s asking price and the percentage of buyers likely to look at your home. In general, the higher you price your home above market value, the smaller your potential buyer pool gets.
We can discuss where to start on the pricing pyramid and why. For instance:
Price at market value:
Most sellers will aim for an appropriate list price at current market value, drawing in roughly 60% of active buyers. Remember, buyers and their agents research market value, too, so you want to hit the sweet spot in price.
According to NAR’s 2021 Profile of Home Buyers and Sellers, buyers typically purchased their homes for 100% of the asking price (with 29% purchasing for more than the asking price.)
Price just below market value:
Pricing 10% to 15% below market value opens the potential buyer pool to 75% to 90%, according to the pricing pyramid — a sound strategy to generate more traffic when your property is unusual or your area has few recent comps.
Goal of this strategy:
To pick a price within a given range based on your selling goals and what type of market you’re in. With the real estate pricing pyramid strategy, it’s easy to see the advantages of pricing at or below market value, and the gamble of limiting your buyer pool too much by overpricing.
How Do I Optimize My Finances?
We can recommend tax professionals who will enable you to effectively assess the cumulative impact of this significant financial transaction, estimate potential proceeds of selling your property, and plan effective tax savings and estate planning strategies. We will ensure that you not only take control of your finances, but also use them to their fullest potential.