The 3rd of 10 Steps of the home selling is setting the right listing price. It’s vital to hire an expert that will assist consumers throughout the process and will help them avoid mistakes.
A new podcast from a Denver Colorado Realtor® gives recommendations about setting the right listing price on a home for sale. The full discussion occurred Colorado’s KHOW Real Estate Consumer Radio Show on December 7, 2019, at 8 AM, which is part of a podcast series from Skyfor’s Buyer Agent Search service. The show is hosted by Denver host, Barry Miller, and Colorado Springs co-host, Larry Stanley along with Skyfor’s CEO, Kathleen Chiras who is a regular guest commentator. The discussion highlighted the 3rd step of home selling which is to determine the right listing price. It is important to set a price that is not either overpriced or underpriced to maximize the profit.
Read the full summary along with the radio show audio here:https://buyeragentsearch.com/how-to-set-right-listing-price-of-home/
What are the steps done to determine the worth of a home? Real estate agents conduct a Comparative Market Analysis (CMA) where they analyze the prices of recently sold similar homes in the area. They assess the competition and the current trends in the market to determine the final listing price. The steps involved in performing CMA are 1) Research; 2) Analyze; and 3) Report to the client. Agents have access to an extensive and comprehensive database of all the purchases and sales of similar homes in the area. They analyze the data they have gathered and put the result in form and shape to meet the seller’s wants and needs. Buyers go through a similar process to determine a good offer price.
A CMA is not the only indicator of a home’s worth. There are other determining factors that affect the listing price such as 1) Location, 2) Age & Condition, 3) Home Size, and 4) Economic Indicators. Homes that are near to schools, workplaces, hospitals, public transit and shopping centers are valued more. The general appearance and condition of the house has an effect on its overall value. Appraisers evaluate the repairs needed, general wear and tear, and critical parts of the home like heating, ventilation, and air conditioning (HVAC) systems, plumbing, electrical, and roof. In most cases, a bigger house is valued at a higher price. The envelope dimensions of the house and certain allowable square footages can be added together to provide an average cost per square foot. This cost can then be used to see how the home’s average square foot dollar amount compares with similar properties in the same neighborhood
The host of the show advises that sellers only need to hire a real estate expert to do a detailed CMA. Consumers need a top real estate agent that will help them avoid common mistakes and traps of home selling. The Buyer Agent Search Service of Skyfor Inc., founded by Kathleen Chiras, is a free, trusted and reliable source of top-notch agents for over 20 years. They have an extensive database of highly experienced and top-notch fiduciaries that meet their strict standards. The full-time staff at Skyfor continue to follow up after recommendations are given to help ensure that the agents are doing the job the clients expect. Visit https://buyeragentsearch.com/find-a-buyers-agent to start looking for buyer or seller agents anywhere in the United States, and Costa Rica. Skyfor also manages the not-for-profit Colorado Exclusive Buyer Agents Association. Exclusive buyer agents in Colorado may be found at https://homebuyerscolorado.org.