How does a REALTOR® establish the selling price of my house? | www.rebgv.org

How does a REALTOR® establish the selling price of my house?

To attract buyers and ensure you receive a price that works best for you, your REALTOR® will help establish your home’s current market value. ‘Market Value’ (given sufficient market exposure) is the price a reasonable buyer would pay for a property of that kind.

REALTORS® have access to information from various sources to help establish market value. When retained to advise on pricing questions, REALTORS® can:

  • review the stated value on your current BC Assessment Property Notice 
  • review recent sales and current listings history for properties like yours 
  • do on-site inspections, examining the exterior and interior of your property in detail, noting new features that could affect the property’s value 
  • give you information about the current economy and how it may have affected the value of your property e.g.  an improving economy may mean rising prices, while a declining economy may mean falling prices

 

Based on this information, your REALTOR® will provide an estimate of the value of your property  and then, together, you can establish an appropriate asking price.

Most successful home sellers have something in common: they use an informed, expert REALTORS® to help them through the complex process of selling their home.