If you are looking to sell in Flushing, you might be tempted to hire a real estate agent and let them take the wheel. Hiring a real estate agent is a fabulous idea, but letting that person take complete control rarely turns out well. Sellers experience the best results when they understand why their agent is making certain moves in the real estate market.
We encourage our clients who are looking to sell in Flushing to pick our brains about how we do our job. Sellers are almost unanimously curious about our pricing strategy.
Assigning a fair price to a property is a tricky endeavor. Fortunately, we have several resources at our disposal. When it's time to talk pricing, here are three tools that we might pull out of our toolbox:
- Run a comparative market analysis.
A comparative market analysis, or CMA, is a study of recent sales of comparable homes in your area. Your agent uses the results to put a price on your property. This method is commonplace in the real estate world.
- Adjust the price to align with real estate website ranges.
When buyers search for a home online, they will probably enter a price range. If you are looking to sell in Flushing, your agent might tweak your asking price slightly so that your property is included in more online searches.Here's an example: If your ideal asking price is $605,000, your agent might encourage you to list your home for $5,000 less. This slight price drop will increase your home's visibility on the web because it catches buyers who have an upper limit of $600,000.
- Encourage a bidding war.
Not everyone agrees with this strategy, but in competitive markets, agents sometimes turn to it. To start a bidding war, your agent might suggest you list your home on the low side to generate interest. It's a gamble, but this method might ultimately drive your property's price higher than you hoped.
If you are looking to sell in Flushing, partner with Flushing Realty for expert advice on pricing your property.
Contact us at (718) 997-6000 or email us here for more information.