Fair market valuation

Real estate is a highly competitive marketplace. The ideal situation is a home that has been given thorough exposure to the market through advertising (Realtor.ca, etc.) and for which a motivated buyer and a motivated seller agree on a price through negotiation. In real estate, this is considered proof of “fair market value” and it’s the goal that we work toward.

If a home is overpriced, the market may ignore the listing because it’s easy to find comparisons that offer better value to the buyer. A home that is priced only 5% over fair market value may take a long time to sell and may eventually sell at a discount. If a house is on the market for a long time without a sale, the market may perceive it as having problems.

If a house is underpriced, it will sell before it has received proper exposure which is generally considered as a time frame of 30 to 60 days. That has changed in recent years as many properties sell within weeks or days of being listed, due to higher demand from buyers. A home that sells within a week or two is not necessarily underpriced: the market may be very hot and all homes may be experiencing the same time-to-sale. Ask us for an estimate on time-to-sell in your area and for your property type.

Benefits of an accurate valuation and asking price

  1. Your property sells faster because it is exposed to more qualified buyers
  2. Your home doesn’t lose its “marketability”
  3. The closer to market value, the higher the offers
  4. A well-priced property can generate competing offers
  5. Real estate professionals will be enthusiastic about presenting your property to buyers

There is a methodology

  • A REALTOR® has access to recent sales and tax information that will help price your home competitively

  • A home that is priced right will sell faster and for more money

  • Changing markets demand a professional comparative market analysis and accurate pricing

Find Out What Your Home Is Worth

For a current market analysis of your home please feel free to take advantage of a free home evaluation.