Setting the Sales Price

Sales or marketing price is established based on asking- and recently-closed sale prices of similar houses in the neighborhood; on the current direction of the real estate market; and on any particular needs of the seller.

We prepare a Comparative Market Analysis (CMA) that compares the sales prices and features of houses that sold to our seller's property. Based on this evaluation, and taking into account a rising or falling real estate market, we make an initial judgment about pricing.

A seller's needs are incorporated into this analysis to determine the marketing price.  Market price is usually a number within a range of prices. It is not an absolute number. Therefore, when a seller has a great need to sell soon, the marketing price is established at the lower end of the range. If there is no great need, then the marketing price is established at the higher or highest end of the range.