The Pricing Stategy

In developing a pricing strategy with our clients, we look at current market conditions and the factors specific to a home, i.e., price segments, neighborhood condition, etc. After review of these items, the seller sets a price at which the home is brought to market and listed for sale. In listing a property for sale, we advise that sellers keep in mind that on the open market demand determines price and the buyers routinely comparison shop. Our pricing study provides a seller with a "range of value". The question of where to set the listing price within that range is an important one...

• Should you as the seller price your property where comparable sales are occurring and hold firm if lower offers are made?
• Shoud you start high, expecting to negotiate or reduce price after the market has been tested?

These are the kinds of questions we talk through with you. A lot depends on things such as ...

• What is the timetable for bringing about a sale?
• Are there very many similar comparable properties currently on the market?

We may suggest you actually drive by or view competing properties and/or buildings to get a better understanding of how we arrived at our recommendation for a price range. Gathering information on the special features of your home is most helpful as we go about the tasks of reviewing value and, thereafter, marketing and showing your property. At the beginning stage of the listing process it is useful to collect pertinent documents and records which you may have on file such as copies of the deed, the house location survey, previous title search abstracts, condominium documents/by-laws and Association records, and utility bills. Typically, we need you to provide us with information on the property which is not requested on the standard listing agreement profile form. To augment the MLS listing data/form, we often use a Seller Description/Disclosure checklist which enables us to answer accurately questions which potential buyers often ask.

Property Description/Declaration: A good faith effort should be made by the seller to provide information to potential buyers. Our intent is to disclose to customers information that we believe to be relevant to the sale of your property. While our role as your REALTOR® is that of Marketing Agent, not home inspector, potential buyers expect that we will have basic knowledge about your property. So we ask you to provide us with information on your home. While there are many potential issues today's buyers and/or lending institutions may investigate, some of the more common ones include: easements, betterments, zoning, property boundary lines, condo reserve funds, asbestos, radon, mold, pest/termite, sewage/water, attachments/liens, parking restrictions, age of improvements, wetlands/flood plain, hazardous waste, lead paint, in-ground oil or gasoline tanks, et cetera.