Intelligent Pricing Strategy
Going Beyond the CMA
Most agents simply run a Comparative Market Analysis (CMA) and base their list price recommendation solely on this data. While we do strongly take into account CMA data, we go beyond the CMA and take into account market conditions, seasonality, & your personal priorities. This allows us to determine whether we should price the property with current comparable data or at a higher/lower price. The end result is a better sales price for you in the time frame that you define. Our Intelligent Pricing Strategy takes into account the following:
- Comparative Market Analysis: How much have similar properties in the same/similar neighborhood recently sold for? What asking prices are comparable properties currently listed at that are both active & under contract? By taking this information into account, we find a price range for your property. Click Here to Learn More
- Market Conditions: After we know the price range for your property, we look at your specific market conditions. We determine the absorption rate in your market, how many months of inventory are currently on the market, & what the average time is to sell. This information tells us whether we should price on the high/low side of the comparable sold properties, or if we should price the property with the sold comps. Click Here to Learn More
- Market Seasonality: We take into account where you are in the selling season. Is the market currently hot or cold? Is it heating up or cooling down? When the market is heating up, we want to price the property on the high side (or above) the sold comps. During peak season, we gravitate towards the most recently sold comparables and price the property with those comps. When the market is slowing down, you want to price your property with or below the most recently sold comparables. Click Here to Learn More
- Priorities & Expectations: When market conditions & seasonality are optimal, we can price the property on the high side (or higher) than the comparables & you can still expect to sell quickly. However, when we have a less than ideal market or when selling during the off season, we will want to take into account your priorities & expectations. Do you need to sell the property quickly or do you care more about getting the highest price possible? These are often competing interests & we need to price the property according to your situation.
By taking into account more than simple CMA data, we are able to price your property competitively, help you get the most for your property, & set reasonable expectations prior to listing.