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How Owasso Real Estate Agents Determine the Listing Price for Your [Home

How Owasso Real Estate Agents Determine the Listing Price for Your Home

There’s a lot more to setting a price for your home than just writing down what you think it’s worth. There’s a lot that goes into figuring out the best price for your home. One that will help you sell quickly while also getting you the most money is important. Process: It’s both art and science, but there are some standard procedures, pricing formulas, and other things that agents use and take into account. So let’s see how Owasso real estate agents come up with the price of your home.

Overview of Listing-Price Determination

The main points to keep in when it comes to determining listing price are: 

  • Comparing your home to other homes that have recently sold and nearby homes that have recently been put on the market
  • There is a lot of competition in the local market now.
  • Prices from different agents

You need to know how Owasso agents usually come up with a price for your home, then.

The main tool that agents use to set prices is a comparison of the market (CMA). The results of the CMA will show you how much the house should be sold for and why that price was chosen, as well as giving you the foundation for a marketing plan.

CMAs used to be short and simple summaries of property comparisons, but now they’re long and complicated because they’re made with specialized software, which makes them more complicated. Most of the time, they show average and median sale prices, price changes, minimum and maximum sale prices in the area, days on market, individual closed sales, homes that were listed but did not sell, the best time to sell, the effect of overpricing, and more.

The price isn’t the only thing your agent will take into account. And that’s why it’s important for agents to have experience and be resourceful as well as to plug numbers into the CMA software. An Owasso agent can help you learn more about what goes into it by calling (918) 845-4727.

The Four Factors That Influence Listing Price

There are a lot of things that can change how much you should charge for your home. When you do a Comparative Market Analysis (CMA), you find out what other homes in your area are worth, where they are, how they are, and what’s new.

RESULTS FROM COMPS/CMA

When you look at the prices of recently sold homes that are very similar to yours and close to yours, this is a simple comparison. Besides your own home, this also includes your current competition, which is how long other homes in your area have been on the market and how much they have sold for.

In order to use the CMA to figure out the listing price, it needs to look at homes that are very similar to yours in terms of their condition, age, features and so on. As a general rule, these homes should be in the same neighborhood. And they must have recently sold, at least in the last six months.

To figure out the listing price of a home in Owasso, your agent will look at other homes that have sold in the area. But there are still things to think about.

THE LOCATION

Your home will likely sell for more money if it’s close to important amenities than a very similar home that isn’t as close to those amenities. Good schools, entertainment, and good restaurants will make it more appealing to buyers, and your agent will take that into account when setting the listing price.

Whether your home is on a busy street or in a quiet cul-de-sac, as well as the crime rate in the area and how the area is expected to do economically, are other factors that affect where you live, too. In order to come up with a price for your Owasso home, your agent will look at everything.

THE HOME’S CONDITION

Because no two homes are the same, your home’s condition will also play a role in the price. To set a higher price for your home, you can make it look better than the other homes in the CMA.

Buyers, on the other hand, have been known to pay up to $15,000 more for a home that is well kept and in good shape. People can usually sell their homes for more money if they make repairs and refurbishments. They also need a good roof and a good heating and air conditioning system, so they can usually sell them for more money. To find out how to prepare your home for this, talk to your agent.

HOME UPDATES

Similarly, your Owasso real estate agent will also take into account any changes when setting the price for your home. If you make repairs, upgrade things, or do a major remodel, it will definitely make your home more valuable.

You can’t list your home for much more or any more with all the new things you’ve done. Some changes simply pay off more when the house is sold. Your Owasso agent should know if you’re planning to make changes or upgrades before putting your home on the market.

Why You Need a Good Agent to Determine Listing Price

Certainly, you can determine a listing price yourself, but should you? Remember, pricing Definitely, you can set the price of your home for sale on your own. But should you? The best way to market your product is to price it correctly. This is because it can get you a quick sale at a good price if you do it right. And it usually takes a lot of experience, skill, and intuition to figure out the right price to put your home on the market. If you want to get your listing price right with the assistance of a good Owasso agent, contact us today at (918)845-4727.

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