PRICING YOUR HOME

How a Realtor Prices it

SELLER’S MOTIVATION

Current Local Market Conditions

Pricing a home should include looking at the current market conditions and trends in your area. Comparable current and sold listings are an invaluable source of information to look at when pricing, because sold property prices can always be relayed to any buyer or seller by their REALTOR® .

Location

Sought after neighbourhoods near well-respected schools will typically demand a higher price tag. Even homes on the same street can differ in price if one side of the street backs onto a body of water, for example, those homes could be priced higher.

A seller’s motivation should also be taking into account. For example, if a seller has an accepted offer on another property, or they’re being transferred out of town, they may ask for a compelling listing price to attract more buyers.

Size And Layout

A home’s layout can also factor into its pricing. The square footage of a home and land size also influences the value of a property. Depending on the area and the buyer trend in an area, aspects like privacy or usable land play a role, as well.

Age And Condition

How old a property is, and whether it has or needs major updates, including windows, roof, kitchen, bathrooms, and mechanical systems all factor into pricing.

Bonus Spaces

A home with an in-law suite or additional income potential can be important as it gives the buyer flexibility with their financing and buying capability. Other spaces that can add value to your home are detached workshops or studios.