Selling a home.
Getting the list price right.
One of the most important parts of listing a home for sale, is pricing the home correctly to get the maximum return. There are a wide variety of pricing/marketing strategies that real estate agents use to ensure this end result. Some are better than others, and they are all dependent on the specifics of that particular home (and the home seller). However, the first step in marketing a home for sale is always finding out what the home is worth in terms of market value.
As you may or may not be aware, Realtors use a process called a Comparative Market Analysis to find a house’s value.
With so many Realtors like myself taking the time to write these educational articles, most people are aware of the general idea of how it is done. The over simplified version is that we look for similar homes that have sold recently, and then average out their selling price.
The problem is, that has been repeated so much that people believe that is all there is to it.
So the first thing I need to do here, is disabuse you of that belief. While a properly conducted CMA (comparative market analysis) does begin with finding similar homes that have sold in the area, just averaging their sales prices may put you in the ball park… but it will not give you an accurate reflection of the market, the homes value, nor will it suggest a strategy for pricing that particular home in that particular market.
No, in order to get those answers one needs to take a much deeper look. Some of the things that must be considered is how long each of the previously sold homes stayed on market, what the conditions of those homes was (compared to the subject property), what upgrades all of the homes had or didn’t have, and finally what marketing process were used to present those homes.
Even with all of that information, the CMA only gives us an expected price range and there are several more factors having to do with the home sellers motivations and goals that will determine the best listing price.
Moral of the story: In order to find the best listing price to get the maximum return when you sell your house, your best bet is to sit down with a professional Realtor, who takes all of these things into account and let them help you.
If you use the contact information on this page, I would be glad to help you find the best selling price for your Indianapolis home for sale.