The seller chooses the competition, but the buyer chooses the home. After taking the tour an reviewing the flow, the competition and the price point should become more evident.
CMA Limitations
The traditional Comparable Market Analysis (CMA) contains data about recent market activity but omits key information about each sale such as: the condition of the home, the marketing of the home, the skills of the negotiator, the seller paid closing costs, the management of the appraisal process, how many offers were received, the motivation of the seller, or the competitive landscape at the time of the sale (inventory levels, absorption rate).
Premium Value Market Analysis
We go beyond a traditional CMA to examine the variables can be pro-actively managed to achieve a higher selling price. We use market research to understand the big picture and MLS data to analyze your neighborhood. Together we will examine active listings, pending contracts and recent sales in your price range for all competing neighborhoods. We calculate the average spread between asking prices and sale prices. We use the absorption rate to understand how quickly the unsold inventory of homes is moving. We look at your odds of selling and consider homes that have: #1) languished on the market for extended periods; #2) been withdrawn from the market; or #3) expired after a long period without selling.
Segment Analysis
By deciding upon a price point you are choosing to compete in a specific segment. We identify likely buyer profiles and review factors impacting buying patters for this pricing segment such as: seasonality, affordability, interest rates and consumer confidence. We cover buyer closing costs, the size of the buyer pool in the segment, and the availability of mortgages. We factor in local issues such as the cost of home owner’s insurance, CDD and HOA fees, property taxes, out-migration, local layoffs, short sales and foreclosures.
Premium Price
Which pricing scenarios make the most sense for you in today’s market? Should you “test” the market with a higher price? What about pricing low to generate a bidding war? Should you leave room to negotiate or be more aggressive? How can you avoid the hidden costly mistakes that most home sellers and agents make?
Annette, Doug and Dale Bohannon have a plan to address the elements that will increase the perceived value and a plan to help you negotiate from a position of strength. You deserve to sell at the high end of the range. Rather than using deceptive tactics and promises, we propose a proven business system that evaluates all the data and implements a plan to sell your home for top dollar. Contact the Bohannons at Coldwell Banker Residential Real Estate in Tampa Florida today.
