When you’re selling your home it’s tempting to just slap a price tag on it and hope it sells. Tempting, but not a good idea! Setting the price right right the first time is important if you want selling your home to be quick and painless. Before you can know what the perfect price is you’ll need to do a little digging around. Luckily, we’re here to help you through the process. We perform a comparative market analysis to make sure we set the price right...the first time!
Performing a Comparable Market Analysis
Don’t be scared by the technical jargon. Essentially this just means we’ll spend time researching similar homes in the area. We’ll consider homes that have sold, homes that are currently for sale, and homes that never sold. To keep it accurate, we only consider these types of home from the last 6 months or so. We take a look at all types so we have plenty of information to include in our report.
Here are a few of the things we consider when performing a comparable market analysis:
Square footage - Comparing a bungalow to the mansion on a hill won’t help anyone. We only consider homes that are comparable in size to the home you’re trying to sell.
Age of home - The age and style of construction has a lot to do with the value of the home. We make sure our report only includes homes similar in age.
Amenities - Certain amenities like a double garage or finished basement can have a significant impact on selling your home. We take this information into consideration as we perform our comparable market analysis.
Location - Location is everything, right!? Our analysis will include homes near yours so the information we find is both accurate and helpful.
Lot size - There’s no point in comparing a 10 acre plot to a ¼ acre page, which is why we only review homes with similar sized lots.
After we’ve considered all of these factors, we’ll put our findings in a report and go over it with you. Together we can determine the right selling price for your home so it sells quickly.
Are you ready to get started selling your home? Give us a call at (317) 259-6000 or contact us through the website to set up a time to meet. We look forward to speaking with you!
Main image by adamr, freedigitalphotos.net