You are ready to put your home on the market. You have taken a good look at it, spruced it up so that it will look its absolute best and now you are ready to price your property.

 

We all wish we could sell our houses for at least $X,000,000. Unfortunately, that will not happen if there are other houses in our area that are larger or newer or fancier than ours and that are available for less than we are asking. In fact, if our price is too high, we will actually help to sell similar homes that are priced lower than ours by driving buyers into the arms of the owners of more moderately priced houses.

On the other hand, a prospective buyer might like to buy your house for $5,000. Obviously, you don't want that buyer to grab your particular brass ring, for there will be other buyers who will be willing to pay more to get all of the benefits that your home offers.

Your job, with the guidance of your Coldwell Banker King George Realty sales associate, is to price your home in such a way that it will attract the buyer who will pay the highest and best price at terms and conditions that are acceptable to you.

 

Your Coldwell Banker King George sales associate has been trained to guide you in your pricing strategy.

 

In the first phase of this process, your associate will visit your property and become acquainted with all of its features. At this time, the rooms will be measured, some photographs may be taken and the sales associate will want you to share information about the property and any improvements you have made, and about your needs . These needs would include your selling timetable (Do you need to remain in the home until the end of the school year? Until your new home is built? Do you need to move within 3 months to take advantage of a new job?), and any particular conditions for showing the property (Do you have a pet who will need special care when the home is shown? Is there someone who lives in your house who works nights?) The agent may also want to borrow your deed, your most recent tax receipts and your survey, if these documents are available. Copies of the deed, taxes and survey form an important part of the property information file when your house is sold and enable the associate to verify the facts.

 

After your sales associate has visited your home, s/he will return to our office to research what are called Market Conditions. Market Conditions include data about properties similar to yours that are currently on the market, properties similar to yours that have sold recently, and properties similar to yours that were on the market during the past year, but did not sell.

 

The agent will then return to your home with this information organized to form a Strategic Pricing Analysis. By comparing these properties, their size, their condition, their location, their asking and selling prices, and the amount of time it took them to sell, you and your sales associate will be able to construct a logical, effective pricing strategy.