Establishing a Pricing Strategy

Understanding Market Value

 

Market-sensitive pricing can be the key to maximum market exposure and, ultimately, a satisfactory sale.


The existing pool of prospective buyers determines a property's value, based on:

  • Location, design, amenities and condition.
  • Availability of comparable (competing) properties.
  • Economic conditions that affect real property transactions.


Factors that have little or no influence on the market value of a property include:

  • The price the seller originally paid for the property.
  • The seller's expected net proceeds.
  • The amount spent on improvements.


The impact of pricing:

  • Properties priced within market range generate more showings and offers, and sell in a shorter period of time.
  • Properties priced too high have a difficult time selling.

Questions? Just Ask!