Other than analyzing trailing comparable sales, what do you consider when recommending a List Price for my home?
- While it’s important to analyze trailing comparable sales, it’s also critical to consider other dynamics like:
- What are your timeframe objectives? Is selling your home quickly important or is it more critical to maximize your sales price? Many agents list homes at prices to turn over quickly so they can move on to the next client. That’s fine if you’re prepared to move it quickly and aren’t hung up on an optimal sales price outcome, but sometimes timing is more important than price.
- Month’s supply of home inventory (e.g. how fast homes are selling) in your area/price range – which helps us gauge likely market response at various price points.
- Pending sales and Active listings – to assess your home’s relative competitive value at different price points. Are new Pending contracts coming in at a higher level?
- Showing activity/trends in your location/price range. Are there price points that generate significantly more showings? How many showings should we expect each month?
- If your agent doesn’t look at behind the scenes data, you’ll miss an upswing in the market and underprice your home and these can impact the optimal list price of your home by $10,000 to $100,000 or more…
I’d be delighted to share this information with you – no cost, no obligation.