Pricing the Property
After viewing your home, the River Valley agent prepares a Comparative Market Analysis. Using the MLS, experience and knowledge of the inventory, and sometimes other public records such as tax records, your River Valley agent will do a comprehensive features and benefits comparison, weighing the features of your home with comparable sold properties. Some of the features analyzed include square footage, lot size, location, condition, and upgrades. This analysis is similar to the appraisal used by lending institutions to determine how much they would be willing to lend a buyer.
After reviewing this analysis, your River Valley agent will then apply the current market conditions, inventory levels of homes similar to yours, and anticipated seasonal activity to arrive at an anticipated sale price. From here, you will determine your asking price. Ultimately, the buying public determines the value of a home at a given time, but the anticipated sales price provides the basis for our negotiations. Pricing correctly is critical in order to maximize your exposure to the buying public. Buyers have a wealth of information available to them, and are very sensitive to price points when searching for properties