Real Estate for sale

Seller's Resource Center - Market Analysis

Do Your Own Market Analysis

Research
  • Check out your competition - what is similiar to your property that is also for sale
  • Gather pertinent information on similiar properties that have sold
  • Research properties that were withdrawn from the market or expired listings with real estate agents
    1) Were they over priced?
    2) Are they in need of repair?
Compare
  • Pick out at the three that are most similiar
    1) 3 currently for sale
    2) 3 recently sold (preferably within the past 6 months)
  • Adjust the similiar properties with more or less value depending on how they measure against your property - the subject property
Determine Value
  • Where do you fit price wise within the current market?
  • What is the probable price your property will sell for?
  • These two prices should be within 5% of each other
  • Be honest with yourself
Important Factors
  • Do not trust word of mouth - get your information from the tax records or other reliable sources
  • Do not adjust the value of the subject property - only the comparables
  • Important features to adjust
    1) Location - waterfront, oversized lot, etc.
    2) Physical features - pools, type of construction, etc.
    3) Economic changes - large corporation layoff

This information can be found in greater detail in
"A Complete Handbook for Selling Your Own Home".

Back to the Seller's Resource Center.


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