Pricing your Condo
Looking at comparable listings and the sales history of units in your building will help to set an approximate market value. At Portfolio Realty we look at many other factors beyond the sales history to determine what the true current market value of your property is and the best pricing strategy to achieve an ultimate sales result. Free Detailed Market Evaluation
Many sellers are emotional with the value of their property but it is important to be realistic. Asking more than your property is worth will not help you to achieve a successful end result. Over valued properties sit on the market and carrying costs start to add up quickly. It is also important to realize that overpriced properties will not be approved for mortgages as banks will do an appraisal and buyers will not qualify for an over priced property.
Benefits to Setting the Right Condo Price
- Your property is exposed to more qualified buyers and therefore sells more quickly
- A price closer to market value brings higher offers as buyers take your property seriously
- Your condo doesn't lose its "marketability" and excitement
- A well-priced condo can generate competing offers.
- Agents will be enthusiastic about presenting your condo to potential buyers.