Educating sellers is part of the process

Traditionally, a seller is provided with a CMA or comparative market analysis by Realtors competing for the property listing.  The CMA information details relevant local properties which have sold in the neighborhood or similar neighborhoods within the last six months.  Relevant refers to the criteria: similar location, style, size and condition.  Sales prior to six previous months are not likely to be useful data points unless the market activity for that period has been particularly flat. 

In the current real estate market, changes are occuring more rapidly than the traditional six month cycles, so Realtors should be keeping abreast of weekly market activity and inform clients of those fluctuations that are relevent. That means following the most recent absorption rate (properties that have just received an acceptable offer to purchase) analyzing the history of recently sold and fully closed properties. Realtors must be able to analyze the nuances of the market, and not just rely on computer generated evaluation programs.  They then have to be able to communicate their analysis and provide. 

No seller wants to “leave money on the table” by underpricing and overpricing can have dire results (an eventual lower-than-fair market value sales price).  An informed pricing strategy is critical. Pricing a property correctly makes the difference between a property that sells in the shortest amount of time for the most money, and a property that lanquishes on the markets and undergoes a series of painful price reductions before attracting a buyer.

For more information about pricing and/or a complimentary comparative market analysis of your property please call or email me:

 Ann Burford, ABR, Pinnacle Realtor

Cell: 781.910.1419

Office: 781.237.5000

aburford@PinnacleHouses.com

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