As a homeowner, there are several decisions you will need to make when selling your home, but one of the most crucial decisions you'll have to make is determining the right listing price. This process can be confusing, but working with a licensed real estate agent who has experience in your local market can be incredibly helpful. Here are some of the factors your Realtor® will consider and how your Realtor® determines your ideal listing price.
To find out the current value of your home,
reach out to our team for a no-obligation home evaluation.
Determining Your Ideal Listing Price
Comparative Market Analysis
The first step that your listing Realtor® will take is conducting a comparative market analysis (CMA). This analysis involves researching and evaluating the prices of recently sold properties in your neighbourhood. By analyzing these sales, your Realtor® can gain insight into the current market trends and determine what price range your property falls into.
Location, Location, Location (and Condition)
The CMA is not the only factor that your listing Realtor® considers. They also take into account the condition and location of your property. Factors like upgrades, square footage, and the age of the home can affect its overall value. If your home is located in a desirable neighbourhood or has a unique feature, such as a large backyard or a view, it may be worth more than other homes in the area.
Current Market Conditions
Another consideration for your listing Realtor® is the current market conditions. Is the market currently a seller's market, where demand for homes is high and inventory is low? Or is it a buyer's market, where there is more inventory than buyers, causing prices to decrease? Your Realtor® will consider these factors to determine the best price for your home in the current market. In some cases, your Realtor®may suggest a slightly higher price than what the CMA suggests, in order to leave room for negotiations with potential buyers. However, it's important to note that pricing your home too high can actually deter buyers and lead to a longer time on the market.
The Competition
Your listing Realtor® will also consider the competition. If there are many similar homes on the market in your area, your Realtor® may suggest pricing your home lower in order to make it more competitive. If there are few similar homes on the market, your Realtor® may suggest pricing your home higher to take advantage of the lack of competition.
It's also important to note that the listing price is not set in stone. If your home has been on the market for a while without any offers, your Realtor® may suggest adjusting the price in order to attract more buyers. Similarly, if your home receives multiple offers above the asking price, your Realtor® may suggest raising the price to capitalize on the high demand.
Are you looking for a real estate agent?
Read How To Find The Best Realtor® For You.
Get Pre-Approved Then Begin Your Home Search With The Mel Star Team
Your listing Realtor® determines your listing price by conducting a comparative market analysis, evaluating the condition and location of your property, considering the current market conditions, and looking at the competition. By taking all of these factors into account, your Realtor® can help you price your home competitively and attract potential buyers. It is very important to work with a licensed real estate agent who has experience in your local market. By taking into account all of the factors mentioned above, your agent can help you make informed decisions and set a price that is competitive and attractive to potential buyers. Remember that pricing your home too high can deter buyers while pricing it too low can leave money on the table. Trust your agent's expertise and work together to set the right price for your home.
To find a Realtor® who can guide your home sale with skill and experience, speak with the Mel Star team. Our team of knowledgeable Realtors® will simplify the listing process for you. When you partner with the Mel Star team, you benefit from over 40 years of collective experience in the Calgary real estate market in all areas and price points for buyers and sellers. The Mel Star team will take care of all of the details while being consistently available to you so that together we can quickly navigate the Calgary real estate market and help you find the most ideal buyers for your listing. Whether you are buying or selling, contact a top-quality team of Calgary Realtors® by calling the Mel Star team at 1-403-861-9944 or filling out the online contact form.
FAQ
Once you’re ready to sell your home, schedule a consultation with the Mel Star team for a Comparative Market Analysis and knowledgeable advice to price your home right.
Selling a home can be very disruptive: cleaning and decluttering, strangers walking through, packing and planning a move, and negotiating offers. For more info on what to expect when selling, read What To Expect After Your Home Is Posted As A New Listing.
A top Realtor® has the negotiating skills that will get you the best price possible, is legally required to put your best interests first, and can assist you with all of the complicated paperwork that comes with selling a home.
CONTACT US
We are here to help and we'd love to hear from you. Call us at 1-403-861-9944 and we will be in touch shortly!