Understanding the Market

The real estate market is always changing. It helps to understand how market conditions can affect your position as a seller.

Buyer’s Market:

When there are more properties for sale and not many people buying them, this is called a “buyer’s market” because buyers have more power of choice. Prices tend to drop so your home or cottage may take longer to sell, more negotiating room and on the market longer.

Seller’s Market:

When there are lots of people looking for homes or cottages but not many for sale, this is called a “seller’s market” because the seller has something everybody wants. Prices tend to increase so homes and cottages sell quickly with less negotiating room and not on the market long.

Balanced Market:

When the number of homes or cottages available for sale is relatively equal to the amount of people willing to buy.

I will be pleased to explain TODAY’S MARKET conditions to you!

Pricing Your Property

The single most important decision you will make in selling your home will be in determining the right asking price for your property. I do a “Comprehensive Market Analysis” (CMA) before suggesting a possible list price. Using extensive data of homes sold in your area and homes currently on the market. Information about homes that failed to sell will also be provided, indicating prices that buyers were not willing to pay.

Your GOAL is fair market value: the price buyers are willing to pay for your property, buyers do price comparison. The benefits of pricing your property correctly are:

  1. Your property sells faster, as it is exposed to the most quality buyers.
  2. Your home remains at it’s top marketability.
  3. The closer to market value your property is priced, the higher the offers.
  4. A well priced property can generate competing offers in some areas.
  5. Real Estate professionals will be enthusiastic about showing your property to their buyers.

Remember, when a new property hits the market there is a flurry of interest; make sure you’re priced right and ready to capitalize on this first flood of excitement.

Through me, Bruce Reville, as your representative, you can expect to obtain the highest possible price in the shortest amount of time, with optimum service.