Pricing is an important component to getting your house sold. With this fluctuating market, you need to look at comparable homes in your area that have sold as far back as 60 days. The sale price of houses that have recently sold gives a very good picture of what the present market is telling you.
Home buyers of today are more educated because of the use of online tools such as Zillow, Realtor.ca and Trulia (just to name a few). These websites provide a fountain of information and a lot of times buyers may know the inventory on the market better than the real estate salesperson. Recent statistics have shown from the National Association of Realtors on Home Buyers and Sellers that the average home search took 12 weeks and during that time period only 10 homes were viewed.
By using the internet the home buyer is taking more responsibility on their own without the help of a Realtor. The internet has fast become the main go to for home buyers to find information about real estate and a salesperson. 90% of home buyers use the internet to search for homes, 87% use a real estate salesperson to find a house and 53% look for signs on front lawns.
At the end of the day after going through all this statistical B.S. it doesn’t matter how much money you think your house is worth. It doesn’t matter what your agent thinks or ten other agents think. The person whose opinion matters is the buyer. Pricing a home involves comparing similar properties, making adjustments for the differences between them, tracking movements in the market and taking stock of present inventory, all in an attempt to come up with a good evaluation, an educated opinion. This is the way appraisers evaluate a home. No two appraisals are ever exactly the same; they however are generally close to each other. A price tag on your property is an educated guess and the market is the one that dictates the price.