The technology that is used in the real estate industry today has to be extremely current and effective in helping buyers and sellers navigate the overall real estate landscape.
However, the same thing can’t be said about the strategies traditionally employed to help you determine the best price at which to sell your home in your area.
You see, the same protocol for pricing that has been used for years - a Comparative Market Analysis (CMA) - is still used today...and using it “by itself” is literally killing sellers’ ability to maximize the sales price of their home.
The inherent problem with a CMA is that it only takes into consideration the sale of a small sampling of homes in your competitive range, without considering the reason why those homes may or may not have sold at a specific price. The condition, loss of job, under-priced, dated interior, a divorce situation, low curb appeal, vacant home, staging, foreclosure, etc. can all create a false sense of value.
What does that mean? If the agent is only using the CMA to determine how you are going to price your home, they could be using homes that sold for much less than a home such as yours. Since the agent picks the comparable homes, this could skew the market data significantly, causing you to lose valuable equity.
The approach we use to determine list price is different.
First, we examine the housing market from a national perspective.Then we review interest rates, availability of financing, and overall inventory of homes in the GTA. Next, we assess the overall local market. We carefully evaluate the overall demand in each price range and determine if buyer demand is trending up or down. Finally, we review the homes that are similar to your property. This wholistic approach ensures that a more accurate price is established for your home.