Selling Your Home? The fist step is a Comparative Market Analysys
What is a Comparative Market Analysis?
The best way to determine the price for your home is to compare it to other, similar homes that are on the market or that have sold recently. Pricing your home correctly is the difference between attracting the right buyers quickly and having a listing that becomes stale. Learn the benefits of right pricing.
The Right Comparables Are Important.
A good CMA will compare your home to homes similar to yours. Picking the wrong comparables creates the wrong price range. Your listing agent will share their comparables. Things looked at include:
- Type & style of home: Condos can not be compared to houses, and a one story ranch is hard to compare to a two story colonial.
- Neighborhood & school district: The CMA will show comparables in the same or similar neighborhood and school district as your home.
- Date of sale: The market changes daily, so more recent comparables are best. Usually your agent will not go back more than a few months in their search.
- Location, location, location: Views, waterfront access, and even the type of neighborhood a home is in all factor into the home's value.
- Square footage: The comparables should be within 15 percent of your home's square footage.
- Number of bedrooms and bathrooms: Comparing larger homes with 3, 4 and 5 beds is fine but below that it gets tricky. Homes with one and two bedrooms do not compare well with 3 to 5 bedroom properties.
- Age of home: A new home makes a good comparison for new home construction or other homes under five years old. However, its value is different than those on a list of old homes for sale. Keep in mind that with the age of the home usually comes age of the systems within the home, like the furnace. This may be a liability rather than an equal value.
- Condition of home: You cannot compare a fixer-upper to a well-maintained or a recently remodeled home.
- Lot size and usability: Lot size is significant only when the difference is big. For example, a home with an acre of land can't be compared to one with a small back yard.
- Have a one-of-a-kind property? Contact us today to learn about the Berkshire Hathaway HomeServices Luxury Program.
Marketing Your Home: How to Get More Buyers
Your house is on the market: Now it's time to spread the word.
90% of todays home buyers search online for their new home. Our innovative and aggressive marketing activities will help attract qualified buyers to your property. In 1996 our in-house IT team developed our first website, with the only searchable real estate listings database in New England. Over the years we have become experts at targeted internet marketing of real estate. We focus on reaching demographic specific, qualified buyers utilizing direct to consumer advertising both on the web and social media.
Berkshire Hathaway HomeServices Stephan Real Estate puts your home in front of the right buyer utilizing focused online advertising.
Over the years we have become experts at targeted internet marketing of real estate. We focus on reaching demographic specific, qualified buyers utilizing direct to consumer advertising both on the web and via social media. We have identified target audiences from years of analytics based on demographics including income, interests, age and more.Berkshire Hathaway HomeServices Stephan Real Estate Agents are experienced leaders in the online marketing of residential real estate.
By marketing to specific target audience, we can generate more interest in your home, attract more qualified buyers to your open houses, and reduce the time on market through focused advertising.