Posts from June 9th, 2021
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How Do Agents Price Listings?
How Do Agents Price Listings?
Have you ever been looking at listings online, wondering how the agent and their client came up with the asking price? Well, the process usually involves research and some strategy, and it's rarely arbitrary.
The most common way to chose a list price is to compare the property to be listed with similar properties that have sold recently. Agents will look at the sold price of homes that are similar in square footage, condition, bedrooms and bathrooms, and in the same neighborhood. They'll use those sold prices, often in terms of price per square foot as a base point.
When it comes to sales comparison, there are other relevant factors to look at as well. Days on market will give a glimpse of the market reac...
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