How a Realtor Prices Your Home

If you find yourself selling your home, then you will obviously be aware that a proper competitive pricing is essential. Pricing too high or too low can have a disastrous effect on how long your home hangs around on the market waiting for a buyer. Perhaps the most fundamental part of selling a home, pricing is also a job for which the expertise and experience of professional Realtor Berryessa san jose ca are all but essential.

As a homeowner, you might be privy to a limited amount of data – the price you actually paid for your home (which will almost certainly be out of date) and a list of property prices for similar homes in a similar area gleaned from property websites. This is not nearly enough. It is the intimate knowledge of the market, forecasts about how it can be expected to change, and a keen eye for the many smaller details that affect price – all of which a professional real estate brokerage can provide – that is your only chance of setting your home at the proper price. Pricing a home is not guesswork.

In line with national trends, prices for homes in and around Salt Lake City are currently high and stable. Indeed, the U.S. is broadly considered to be in the midst of a seller’s market, and so this is a good time to sell. But to do so properly, you will need the expertise of a professional real estate brokerage, like CityHome Collective out of Salt Lake City, to pull off a competitive sale.

Market Value

A realtor’s job when pricing your house is to establish market value. Market value is the price that a house of that type, in that area, and in that condition, can expect to fetch. However, there is another important component of market value, specifically that it is a constantly fluctuating figure that is also dependent on the market conditions at a specific time. It is also a figure applicable only with the right degree of market exposure. There is no eternal value for your home, and if it stays on the market for a considerable length of time, reassessment will eventually be required to assign the home a new market value.

How is Market Value Assessed?

The first thing a realtor will do when assigning a market value to your is home is to review the current sales and listings for similar properties in similar areas. Specifically, this relies upon the price of recently sold or currently selling homes. This is different from the value stated on the current BC Assessment Property Notice, which also values homes not up for sale. Expertly deferring to these two figures is an essential part of valuing your home.

A realtor will, of course, also perform an onsite assessment. This involves an examination of the interior and exterior of your home and addresses all the smaller factors unique to that house. There is a truly massive list of potential factors here, and it really does require a professional realtor’s expertise to properly assess. This is certainly not something you should be trying yourself.

Finally, a realtor will employ their knowledge of current market trends to make predictions regarding the price at which your home may sell – as well as how that may change in the near future. This is another area where expertise and experience are essential.

The BC Assessment value for your home will provide you only with a ballpark figure, and that is not nearly good enough to develop a competitive selling strategy. Make no mistake, real estate brokers could not be more essential.

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