How Do I Determine a List Price and What Goes Into It?

This is a great question … it’s a little bit of a science and quite frankly it can be hard to determine prices, especially in the luxury market, because each home is different and unique, whether it be in its orientation, the view, how it lays out or the finishes. So as a professional realtor, I look at a combination of factors when determining a listing price: I look at what has sold in the area, my knowledge of that particular area, buyer demand, the finishes and overall condition of the property, the view and most importantly talking with the home owner on how aggressively we want to list the house for sale, depending on their goals. Ideally it behooves the home owner to list the home appropriately, in order to obtain the highest value possible in the shortest amount of time, which is the ultimate goal for my clients.

To sum it up, typically some of the most important factors for determining list price are: looking at the comparable sales, knowing the neighborhood and knowing the current market (i.e., buyer demand and current inventory).

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