Comparative Market Analysis
Before coming to a conclusion on what your property will be listed for, the first step is to complete a comparative market analysis.
So, what is a comparative market analysis?
This is an extensive report that analyzes recent home sales within the last six months for similar properties. We look at factors such as:
Our team insures the analysis is as precise and accurate as possible by hand-picking the properties that are the most similar and then reducing the list of comparable homes. This process allows our team to gather the most relevant market data and also to improve the accuracy on the exact market value of our subject property.
It is so important to ask a ton of questions when implementing the comparative analysis. Some examples may be:
- Does the home have a view of the ocean?
- Is it near a major freeway or busy street?
- How much privacy does the property have?
- Are there add-ons to the property, such as a swimming pool?
The end goal is always to get the highest possible price for your property, yet, to market at a competitive range that won’t scare away serious buyers.
One of our pricing strategies includes a pricing range which opens up the search options online to buyers with various price points. We understand how critical it is for your property to appear on more searches; therefore, this is one way we advise our clients in order to create greater exposure for their home.