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Determining the Market Value of Your Home
Now that you have made the decision to sell your home, it is time to determine its asking price. Since the procedure by which it is calculated can be somewhat complex, you will want to seek the guidance of a trained professional – your REALTOR®. Should you price your home too low, you could potentially cheat yourself out of thousands of dollars. Conversely, if you price your home too high, potential buyers will bypass it in favor of something more reasonably priced. Leaving your home on the market for too long could have the adverse effect of giving it an unfavorable reputation. The object is to choose a price that is neither too high, nor too low. The asking price should be both accurate, given its market value, and fair. Your REALTOR® is familiar with the market and all of its changes. Take advantage of their knowledge and expertise.
What is Market Value?
Market value is the highest price that a willing buyer and seller, not under any compulsion or outside pressure, agree upon. Determined by outside influences, such as social and political factors, as well as the economy, market value is the price that your home should sell for in the current market. Your home’s fair market value depends on a number of other factors including, how it was built, its location, the condition it is in, the size of both the house and the property it sits on, as well as the price of other similar homes that have recently sold in your neighborhood. The price you choose will also be determined by the tempo of the market, the public’s confidence in the current economy, and competition within the market. Ultimately, the market will determine the value of your home, not you, making the services of a trained professional who understands it and all of its complexities all the more worthwhile. Don’t hesitate to ask your REALTOR® any questions you may have – their knowledge could save you thousands of dollars.
What's My Home Worth
Find Out What Your Home is Worth.
202 Brownlow Ave Tower 1, Suite 220 Dartmouth, B3B 1TS
Sold seller saved amounts are based on comparing what the seller paid including HST to 6% plus HST. Any comparisons to a % commission, such as 6%, are for illustration and comparison purposes only. Commissions may be negotiable and are not set by law. Our fee varies for homes over $200,000.00. The trademarks MLS, Multiple Listing Service and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. All listings MLS unless otherwise stated. Each office independently owned and operated.
NSAR IDX Reciprocity listings are displayed in accordance with NSA's IDX Agreements and property information is provided under copyright (C) by the Nova Scotia Association of REALTORS®. The above information is from sources deemed reliable but it should not be relied upon without independent verification