When a home is listed, it needs to be at the right price in order to ensure that you get what you deserve for your home. There are a lot of factors that go into pricing a home and your Royal LePage Team Realty agent will help guide you through the process to ensure a positive outcome. Ultimately, the listing price is your decision, but trust your agent; they know what they are doing!
What’s in a Price?
When it comes to listing a home, the price can be everything. Pricing a home too low may mean that the sellers may not get top dollar and pricing a home too high may deter buyers. It’s so important to have a home priced right, the moment it hits the market.
What Goes Into Pricing a Home?
Your Royal LePage Team Realty agent will use a variety of factors to help guide you to the perfect listing price for your home. These factors include:
- Recent sold data, houses that are currently on the market, and even those listings that were cancelled or expired in your neighbourhood. And remember, just because 2 homes may look the same on the outside, doesn’t mean that they are worth the same; there are a lot of factors including upgrades and maintenance that go into pricing a home.
- Market trends for your area and the entire city. It is important to compare the data to the market trends. Our real estate market in Ottawa is constantly changing and pricing can vary from year to year. An important trend right now is multiple offers and this can affect listing price as it is important that the price allow room for offers.
- The condition of your home. It can be hard to objectively look at our own home to determine the value. Where you may see beautiful memories, someone else may see something that needs to be replaced. Your agent will be able to give an unbiased opinion when it comes to the value of your home.
- Knowledge and Experience. A real estate agent works in this market every day and their practical experience in your neighbourhood can outweigh any stats or trends.
- Combine everything together to create a CMA (Comparative Market Analysis) of your home. Using all these factors, your agent will create a CMA that will predict what your home is worth.
If you want to know what your home is worth, contact us today! We would love to come visit your home and provide you with a free home evaluation.