The 3 Most Common Questions Sellers Want To Know
- How much is it going to cost me?
- Will it sell quickly?
- How much can I get for my house?
Answering these questions puts you in the driver's seat. But first, you must rely on the data and the expertise of your agent to give you a fair value market assessment and a realistic timeline to sell. Once you understand these variables, you can list your home.
Most homeowners get leery when agents start talking commissions. In DC, VA, MD the seller is responsible for paying both the buyer’s agent and listing (selling) agent. While the industry standard is 6%, there is always room to negotiate. Don’t let the commission discussion scare you, especially when enlisting the services of 4J Real Estate. We will work with you.
Many homeowners overestimate or overvalue their home, because they know the blood, sweat, and tears that went into it making it theirs.
The reality is that your home is only worth what someone will pay for it and how that price compares to other homes that sold in your neighborhood.
So how do you decide on the most competitive price to get your home sold quickly?
As a first step, we want to get a snapshot of sales in your neighborhood, and prepare a market analysis.
A comparative market analysis (CMA) is an in-depth look at the properties that are active, pending (under-contract) and have sold in your neighborhood.
A CMA will give you an idea of the housing market in your area, and provides us with the information needed on how to market to potential buyers. The bottom line is that you want a strong offer and a quick sale.
We do a market analysis for you so you can price it correctly.
A CMA will give you an accurate report on the housing market in your area, and it gives the 4JRE agent an idea of how to market to buyers to tempt them to look at your home as a contender.
The goal of a CMA is to know what buyers in the area are looking for and assess how your home will measure up. That way, you will be able to find a price that brings you what you need and will be attractive enough for the new homeowner. The bottom line is that you want a strong offer and a quick sale.
Buying a new home is an emotional experience, and perception can sometimes alter reality. New buyers don’t always look at the data or facts; they base their purchasing decision on curb appeal, lighting, design, neighborhood, and many other factors. As the seller, you’ll want to highlight all the features of your home and make it as attractive as possible to the buyer.
The CMA includes the following:
- Number of rooms/bedrooms/baths
- Square footage of home and lot
- Age of the home
- Property taxes
- Nearby amenities
These attributes are compared among other similar properties in your neighborhood. The market analysis typically looks at activity over the past few months within about a half mile surrounding area of your home. This broad search helps to evaluate the market. In addition to the CMA, we look at absorption rates (current supply and amount of time it will take for that inventory to sell), overall sales statistics, market conditions, and other analytics to make sure we have a full understanding of your home’s market.
Once you have all the facts, we’ll work with you to determine the pricing strategy and timeline.
Knowing ahead of time what is currently on the market, what has recently sold and for how much, puts you in the best possible position to price your house and to sell it quickly.
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