February 22nd, 2012 
Lydia Pollard
Sales Representative Lydia@LydiaSellsHomes.com
Direct: 905-272-4764
Office: 905-812-8123


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The Role of a Real Estate Agent in Pricing

 

There is no exact price for real estate

I don’t tell you what I think your home is worth

The market determines value– together we determine price.

I will show you a range of prices being paid for homes in your area.

You determine the price based on factors you control:

Which are:          Market Time
                        Price
                       
Condition of the Property
                        Exposure Methods

 The Real Value of Your Home is Based on Facts regarding the price your home will sell for.  The most revealing fact is prices buyers have been willing to pay for homes similar to yours.  These are called comparable sales and are available to every Realtor ® in our area.  We all have access to the same information.

Don’t select your agent based on the price they say your home will sell for.  Remember, the agent you choose isn’t buying your home; your agent is responsible for selling your home.

Unfortunately, a homeowner will often select the agent who quotes the highest price.
Sometimes, an agent who understands this will tell a seller an inflated price to get the listing.

The agent who is willing to list your house at the highest price is least likely to get your home sold for top dollar.  An agent who knowingly takes an over priced listing usually plans to start “working on you” immediately to get a series of deep price cuts.  The problem, besides your frustration and feelings of betrayal, is that all the other agents quickly decide your home is an “Over priced burden” and won’t even consider showing it.  You have to cut your price well below fair market value to get the other agents to think of it as good value!  The result is that your home takes longer to sell and you get less money.

The secret to getting the most money and the quickest sale with the fewest problems is to price your home properly.  The facts are available and they are clear and convincing.  The best way to select a Realtor is to find the person with the best strategy for marketing your home.

Always choose a Realtor based on services NOT highest listing price.

YOU decide after we review the facts together.



Market Analysis Explanation

The correct selling price of a home is the highest price the market will bear.  To assist you in determining the correct asking price I have provided you with a market analysis of comparable properties that have been recently offered for sale in your neighbourhood.

This analysis is based strictly on homes that can be considered similar to yours, and has been specially prepared for you.

This “Comprehensive” property analysis is divided into four categories:

1. Similar properties that are currently listed.
2. Similar properties that have recently sold.
3. Similar properties that have sales pending.
4. Similar properties that failed to sell.

By carefully studying the comparable property locations, features, and the terms under which they are offered, we can develop a clear picture of the potential market for your property.

By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from.  We can be certain that we are not under pricing the property.

By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months.  This is the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.

While we naturally want top market value for the home, we can agree that there’s a point where the price would be too high.  By looking at homes that didn’t sell, we can accurately determine that price point and be careful not to get too close to it.  By doing our homework diligently, we can get maximum dollars in a reasonably short period of time.

Effect of Over Pricing on Selling Time & Price

Interest vs. Weeks on the MarketAsking Price vs. Percentage of Buyers That View Property

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