When you’re putting your Marco Island home on the market, you always need to know how much it’s worth before you list it. However, that’s not always easy to find out exactly how much your home is worth – and that’s where a REALTOR®’s® expertise comes in.
Your REALTOR® can give you an accurate comparative market analysis that will tell you all about the value of homes that are similar to yours in size, amenities and location. Your CMA will be based on values your REALTOR® finds for homes that have sold within the past 12 months, homes that are on the market right now, and homes that have sold but haven’t officially closed. The data will also include properties that were on the market but failed to sell within the past year.
This is an absolutely essential step in selling your Marco Island home.
So why is it so important that you know how to price your home correctly?
Why Setting the Right Price is Important
When you put your home on the market, it’s incredibly important to get the price right the first time. You want your home to sell quickly, but you don’t want to leave money on the table – and to make that happen, you need a strike the right balance between value and price.
While asking too little for your home may not be a catastrophe of epic proportions, it does mean that when you sell it, you could have made more; that’s money you could’ve used toward the down payment on your next home, to pay off your existing loan, or as profit.
Asking too much is a different story. If your asking price is too high, your home won’t sell. The longer it stays on the market, the less value potential buyers see in it. When you lower the price, you may have a more difficult time selling it.
This is where your REALTOR®’s expertise comes in. Your REALTOR® will help you determine the right price from the start by providing you with a free CMA that lets you see what other homes in the area are selling for.
Are You Selling Your Marco Island Home?
If you’re selling a home on Marco Island, call us at 239.821.7926 or get in touch with us online. We’ll be happy to help you determine what your home is worth with a complimentary comparative market analysis.