What Will It Sell For?
This is typically the question that every property owner has at the foremost of their mind when considering selling their home. The answer is always decided by THE MARKET. In other words, homes always sell for whatever someone wants to pay. I'm not being flippant; even a home that is in poor condition and a bad location can sell for above expectations. Ultimately it's a perceived value by potential buyers that inform 'the market'.
For example, a home covered in wall paper, popcorn ceiling, and a kitchen from the 80's will never sell for the same as a home that has the same numbers of rooms, same square footage, and on the same street that has recently been renovated. That's an easy example and in reality it can be far more nuanced. Because beauty is in the eye of beholder it's my job to guide the listing price of the home in accordance to what buyers are looking for. Making small cosmetic improvements to the home is a proven way of homes selling for more than their counterparts. I.e. painting, patching holes, light landscaping.
When pricing your home, I look broadly at the market and specifically at your home features. When helping set a a listing price my guidance is in-line with what you want: to sell your home in a timely fashion for as high a price as possible.
So How is a Home Priced?
Many agents meet with potential clients and toss out high numbers
in an effort to get the business. In addition to the obvious problems this creates,
there is only one proven method of pricing a home accurately. AND even that
method is still a "best guess" as it is the MARKET that ultimately decides what
a home is "worth" (see above). I take a look at the pricing of homes in the area,
recent sales of similar homes, and do a visual walk-through of the home. That last
piece can be the largest factor in pricing a home.