How Do REALTORS® Price Homes?

Dated: April 10 2023

Views: 241

The Calgary and area real estate market is always changing! When thinking of selling its critical that you get a professional market valuation from an experienced Listing Specialist. The Green Group specializes in listing and SELLING homes in and around Calgary and we can provide an accurate value of your home at your convenience.

How Do Realtors Determine a Home's Value?

Determining a home's value can be considered an ART and a SCIENCE! In some cases, we use statistics and resale values to determine the price. In many cases, we also use experience, intuition, and pure gut instinct to guide us on pricing a property! 

Here are a list of tools we use to determine the value of a home:

  • Calgary Real Estate Board Statistics - this resource accurately tracks trends and forecasts so we can see where the market trends can influence values. By studying these numbers monthly we can accurately predict short-term values based on long-term trends.
  • Pillar9 (the Realtor MLS) - here we can view not only the active listings on the market but also the recent sales. A competent agent will be able to accurately determine which recent sales are comparable to your property and find out what other similar homes have sold for. Often we call this a Comparative Market Analysis or CMA.
  • Adjustments - after determining what other similar homes have sold for, we must adust for the condition, features, and benefits of your home compared to the similar homes that have sold. In most cases, your home could be worth more or less than the comparable homes. 
  • Experience - as top-producing agents, we have extensive experience selling homes in most areas of the City and surrounding areas. This experience allows us to make small adjustments in our pricing strategy based on the street you are on, the exposure, and the features that the typical buyer for your community is looking for.
  • Intuition - sometimes we walk into a property and just KNOW that we can push the limits on the pricing for this home. Often when a Seller has taken great care for a property, or has a keen eye for design we can feel confident in pricing the home slightly higher and achieving a sale above our client's expectations. 

We combine all of these aspects to provide an accurate market value. 

How Accurate Is Your Market Value?

The true value of a home will come down to what a buyer is willing to pay and what a seller is willing to sell for. Our job as your Realtor is to determine a pricing strategy - the best price to enter the local market at that specific time in order to garner the best price in a relatively short period of time.

As we mentioned earlier, the market is an ever-changing and dynamic thing. We don't always get it right - in some cases it may take longer or even a reduction in price to sell. In other cases, we see such strong demand that the home will sell in MULTIPLE OFFERS well over the asking price!

The good news is that we will never list your home at a price that you don't agree with. Together we will determine the pricing strategy that will get you the best result in the timeline that works for you.

How Can I Get a Market Value?

It's simple! The first step is to contact us at home@greengroup.estate or 587-800-0645 to arrange an appointment. Our Listing Specialist will call you and ask some initial questions, confirm the appointment, and come see your home if necessary. We will discuss in detail your options and determine if the time is right for you to place your home on the market. 

With confidence, you will be guided through the home-selling process. Our strong team of agents will work to generate a sale for you, and our exceptional administrative staff will ensure your marketing and paperwork are handled with professionalism and accuracy. 

~Green Group Real Estate

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Hayley Green

Hayley was born to sell. With decades in sales experience, she continues to increase her numbers year after year. She is known as one of Cochrane’s most prominent Agents and has sold a home in v....

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