Setting the right price
Here’s a pricing strategy that, because it’s sensitive to market trends, is more likely to result in the best selling price.
Naturally, the location, property size/features, style, age, physical condition, special features, and recent enhancements must all be considered in assessing your home’s value. As a starting point, though, your Weichert Sales Associate will thoroughly research comparable homes in your neighborhood and town. Recent sale prices, the current prices of similar homes, and even homes that didn’t sell and were taken off the market will all be reviewed for you.
To analyze the data, Weichert has developed a unique tool called a Price Trend Analysis*. It goes beyond the capabilities of a typical Comparative Market Analysis (CMA) by projecting local price trends. With our method, your Sales Associate can factor in the many market influences that impact price – including supply of homes versus demand, how the local economy is faring, and home appreciation rates – to determine your home’s Fair Market Value.
An attractive initial listing price, based on Fair Market Value, is especially important. As you can see from the chart below, pricing greatly affects the number of buyers your home will attract. And homes almost always gain the most attention when their listings are new to the market.
- * This document is not an appraisal and should not be considered to be the equivalent of an appraisal.
* This document is not an appraisal and should not be considered to be the equivalent of an appraisal.