Windsor Realty is always asked the question: “As a seller, how do I get a good comp on my home?” This is where it is important to select a professional, knowledgeable real estate agent who can save you time and anxiety when comparing real estate properties. At Windsor Realty, we handle the work and let you know why your home should be set at a certain price.
So how does the process work? Location, upgrades, extras, foreclosures and amenities help determine the listing price of your home. What is looked for when comparing homes for sale or those that have recently sold in your neighborhood is to see how your house measures up to a buyer’s perspective.
For a professional agent, pricing your home is not a lucky guess. Finding an agent that is well acquainted with your neighborhood provides you with someone who can quickly grasp which homes sell fastest, are in foreclosures, what is in demand from buyers looking in your area and what has sold quickly and recently.
A comparable property is a home with similar features: size, condition, neighborhood and amenities. For example, if your home is 2,500 square feet in a nice, family neighborhood, an agent will be looking at similar homes for sale within the same square feet and neighborhood. This can be done by actually visiting homes for sale and comparing homes that are currently in escrow. By comparing homes that have sold, you are getting a fairly good idea on what your house is worth. In a buyer’s market, homes are often priced very competitively, as there is so much inventory out there buyers need to have an incentive to walk through your home. At Windsor Realty, we have a very good idea of whether a property is priced appropriately and what a good offering price might be. We also consider if a home similar to yours has been taken off the market because it didn’t sell. If this is the case, chances are, it was priced too high. If there are many similar properties out there, the perhaps prices should be lower.
In today’s housing market, we advise that sellers be realistic about the price of your property and set the right asking price. Certainly, the number one goal is to price a home fairly and showcase your property to its full advantage. By being proactive, your home will be sold in no time.