If you are hoping to sell your home in the near future, you may have considered what your home is worth today compared to when you first purchased it.
In the world of real estate, properties do not have a static pre-determined market value. Instead, understanding where your home stands in today’s market requires a few careful calculations. These calculations involve a wide range of factors, not just the physical home itself.
In this blog post, we will look at how a real estate agent can calculate your home’s worth, and how additional selling tactics can help you maximize your results in tandem with this information.
Searching for insights on how your home’s value will impact what you pay in property tax? Click here to read our blog post about assessed values.
Understanding Market Value
Effectively determining your home’s true worth starts with a comparative market analysis. During this process, your agent will carefully consider important details such as your home’s age, size, condition, location, and any stand-out features. Next, they will take a look at the local market, analyzing comparable homes that have recently sold or are still listed.
With this information in hand, your agent will have an idea of what your home could sell for once it hits the market. However, optimizing your final sale price does not stop there.
Gearing up to sell your home? Explore these blog posts to ensure you’re adequately prepared for the market.
- When Does it Work to Sell Your Home First?
- When is the Right Time to Sell My Home?
- Should You Sell Your Home or Keep it as an Investment?
Market Value vs. List Price
While your agent will have an idea of what your home could sell for, that does not automatically mean you should list the house at that price. Instead, maximizing the return on your home sale requires a carefully considered pricing strategy. Similar to a market analysis, this process will also involve a close look at comparable listings, current buyer trends, and relevant historical data.
Why Price Strategically?
When selling your home, achieving a great result is ultimately about maximizing buyer interest. The more people that wish to buy your home, the higher the demand.
On the market, elevated demand can lead to multiple-offer scenarios, bidding wars, or even top-dollar bully offers – ultimately boosting your final result.
Selecting an asking price that is too high could limit how many buyers will discover your home. Alternatively, pricing too low could mean selling yourself short. Therefore, the best asking price for your home will be the one that attracts the most buyers, without leaving any money on the table.
This is where having a knowledgeable, market-savvy real estate agent at your side is essential. Using their industry expertise, knowledge of the local market, and experience with properties like yours, they can recommend a well-thought-out asking price for your sale.
Translating Strategic Pricing to a High-Result Sale
Just because your home is listed at a certain price, it does not mean that it will sell at that number. Once you begin receiving offers on your home, negotiations will ensue.
During this step, your agent will work tirelessly to turn your carefully selected asking price into the best result possible. Leveraging their expertise, they will let you know which offers are worth accepting, when to counter, and which offers can be ignored.
Once again, you will want to be selective in the agent you choose to represent your home. Negotiations are critical to your final result. If you work with an inexperienced agent, you could be leaving big money on the table.
Eager to know more about the importance of choosing your listing agent? Click here to read our blog post on the topic.
How We Sell
If you are searching for a North of Boston real estate team that can lead you to an impeccable home sale, look no further than Andersen Group Realty. With over $1 billion in sales under our belt, our track record of success speaks for itself.
In addition to accurately assessing your home’s market value, our time-tested selling strategies, such as professional staging, far-reach marketing, and savvy negotiations help you sell for the absolute highest price.
Beyond results, we will also ensure a great client experience. We plan and manage your sale meticulously, leaving no detail unconsidered. With Andersen Group Realty you can sit back and enjoy a confident, stress-free home sale.