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How to Price Your Property

Finding the right price for your property can be a struggle. You want to make sure you are getting the right number for the value of your property without over-asking. There are a few thing your Realtor can help you with to make pricing your property run as smoothly as possible.

The first step in pricing your property is to research the price of comparable properties in your area. Your Team Hawke Realtor is happy to prepare a Competitive Market Analysis of comparable properties detailing the original listing price, the actual selling price, and how long the property was on the market.

It is then important to see how your property measures up to neighbouring properties. Take a drive by home that have recently sold and pop into local open house to get a sense of home features in your area. This will allow you to see houses through a buyer’s eyes and will help to evaluate the pros and cons of your own home.

When the market is hot and there are a large number of buyers competing for a low inventory of properties, pricing can seem like less of a challenge. But even then, it is important to avoid overreaching. It is better to be smart, not wishful. Price your property in line with other comparable properties rather than aiming too high and having to re-adjust the price later.

First impressions are everything when selling your property. In fact, the first two weeks on the market are the most crucial to your success. It is during these initial days that your property will be exposed to all active buyers. If you price your property too high, you may quickly lose this initial audience and find yourself relying on the trickle of new buyers that will enter the market in the future. You have one chance to grab buyers’ attention. Make sure your pricing helps you stand out in the best way possible.