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$225,000 - $450,000
GCC or 65 award units
within a calendar year

Pricing Your Home

Ensuring your home sells at fair market value within a reasonable period of time is dependent on your pricing strategy. I will help you create the ideal strategy based on the following factors:

Determine Fair Market Value

Fair market value is the price a buyer is willing to pay for a home given its condition, recent comparable sales and listings, and the local real estate market.

Comparative Market Analysis

To calculate the fair market value of your home, I will prepare a Comparative Market Analysis (CMA) report summarizing properties in your area with similar square footage, construction, age and condition that have recently sold or are currently on the market. Recent comparable sales and listings are two of the most important factors impacting fair market value. Comparable listings that expired before they had a chance to sell also offers an indication of the fair market value of your property. Adjustments to your home’s evaluation will also be made given its location (e.g. proximity to parks, schools and transportation), floor plan, home improvements, amenities, parking, storage and other variables.

Local Market Inventory And Trends

Other factors that may influence the fair market value of your home include whether it is trending towards a buyers’ or sellers’ market, the number of similar homes on the market, interest rates and the overall lending climate, the average number of days similar properties are on the market, and whether similar properties are selling for above or below the asking price.

Other Factors

Factors such as property appraisals or tax assessments may have some influence on the fair market value of your home; however, more often than not, this influence may be limited or inconsequential. For example, the assessed value of your property for tax purposes maybe significantly higher or lower than its value on the real estate market. This is because buyers and investors will evaluate the value of your home against recent comparable sales listings, not against property tax assessments.

Home Selling Essentials

One factor that has no influence on your property’s fair market value is the price you originally paid for your home. Even if you purchased your property recently, the local real estate market and the market value of your home may have dramatically changed.

Price Your Home

Determining your home’s listing price is one of the most critical decisions you will make in your sales and marketing strategy, and should be done in consultation with me as your Real Estate Agent. Your recommended listing price will take into consideration your home’s fair market value, adjustments for unique property attributes, neighborhood market trends and appropriate pricing strategies given current market conditions.

The Risk Of Over Pricing

If you overprice your home above its fair market value, potential buyers and real estate investors will compare it unfavorably against recent comparable sales and listings. The risk is that your property will linger on the market for longer than what is typical for similar listings, stigmatizing it as an undesirable or blatantly over-priced property as a result. You also run the risk of potential buyers never having the chance to even view your listing as your home may show up in search results above the buyers’ maximum budget.

Marketing Strategy

A decade ago, it may have been acceptable for a property’s marketing strategy to be limited to a “For Sale” sign on a property, print advertising, local postcard drops and the loading of property details onto MLS. In today’s era —where close to 90% of homebuyers are using the Internet in their real estate search (National Association of REALTORS®, 2011) and where international buyers snapped up over $82.5 billion in real estate in the North America alone in the 12-month period ending March 31, 2012 (National Association of REALTORS®, 2012) — that is no longer the case. Today’s real estate buyers are local and international, and are looking for homes through traditional and digital channels. To achieve top dollar for your home, it is essential that you maximize the exposure of your property to them. To find out more about my marketing strategy, click here:

For more information on any of these services, contact Kaitlyn at 403-970-5397.

© 2014. Kaitlyn Gottlieb.
All rights reserved.