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Proper List Pricing

What would an upward or lower price adjustment look like based on the current market CMA?  Well, let’s look at an example.  Let’s say that the CMA of previously and recently sold similar homes shows that the listing price should be around $235,000.  However, those sales were between one month and three months old.  Our current market listing CMA shows that similar homes in the neighborhood are listed at $249,000 or thereabouts.  Me and you may decide that the market is improving and justifies raising the listing price of your home to $245,000 so that it’s still competitive but a better deal for you.  Of course, this can work the other way as well.
 
A proper list price that reflects current and realistic market conditions is critical to getting your Concord, Harrisburg, Indian Trail, Matthews, Weddington, Pineville, Marvin, Waxhaw, Charlotte, and Mint Hill real estate property sold quickly. I don’t want you to under–price, but it’s worse to over–price in any market. Buyers discount value by DOM, Days On Market. The longer a home stays on the market, the greater they’ll discount their offers. So, a realistic list price is how I make sure your property sells without languishing on the market.
 
How do I come up with a suggested list price that reflects your home’s competitive position? It’s a combination of services and experience, and I'm going to be very careful and detailed in my analysis and market evaluations to make sure that you don’t leave money on the table or sit around wondering why you aren’t getting offers.
 
My evaluation of how your property compares to the current competition is the first step. Then we may suggest some worthwhile corrections you can make to improve that position. Once I know what your home will look like when listed, I’ll go into our thorough CMA, Comparative Market Analysis, process.

CMA of Sold Properties 
First I select comparable properties out of those sold recently and in the neighborhood or nearby. These “comparables” or “comps” are selected based on similarity in features, location and characteristics with your home. They must have been sold as recently as possible so the sold prices are of maximum value.

I then do a through “adjustment” process to adjust their sold prices for any differences with your property. If a home has one more bedroom than yours, I would adjust that property’s sold price downward for the value of one bedroom to make the comparison “apples to apples.” I make adjustments for garages, bathrooms and other major features to bring our comps to closely compare with your home. Then I use those sold prices to arrive at a preliminary listing price for your home.

I say “preliminary” because I have another CMA step.

CMA of Current Listings 
Now I get more comps, but instead they’re properties currently listed and your competition. I go through the same adjustment process, and I come up with another, possibly higher or lower, price suggestion for your home. This second CMA gives me more up–to–date information about the market which could cause us to lower or raise our preliminary list price to adjust to the current market. Using the two CMA results and an experienced analysis of your home’s position in the marketplace, we can set a listing price that will get the job done.

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Contact Info
Agent
John Walker

John Walker Realty

7900 Stevens Mill Rd, D-209
Matthews  North Carolina 28104

704-651-8817 walker.john.c@gmail.com

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Success Stories
  • Our experience working with John Walker was most positive. His knowledge of the house buying process as well as his quick friendly responsiveness made our first home purchase experience awesome. He was absolutely great to work with in every way and we would recommend John to anyone we know who is looking to buy a home.

    The Gennusa Family, Indian Trail NC
  • John was fantastic! He helped us every step of the way to find and buy our dream house. From the beginning of our preliminary search to closing the deal he was always there for us. We were relocating from out of state and John did an excellent job of familiarizing us with Charlotte. He knows every neighborhood here.

    The Palmer Family, Charlotte NC
  • John helped us in every phase of selling one home and buying another - from deciding if this was the right time for us to sell, to helping us choose the right area and house, to the mortgage/insuring and finally moving phase. He was extremely energetic and focused on getting us what we wanted, and always seemed available to answer our questions and research the few things he didn't already know. I cannot recommend him highly enough!

    Denis and Martha, Charlotte NC
  • John was not only extremely professional but so personable as well. We are so thankful for all of his help. This was a difficult time because of the loss of our dad but John made this as easy of a process as it could have been. We now consider him a friend as well as an agent. We are blessed to have found him!

    The Ward Family, Mint Hill NC
  • John was wonderful to work with. We relocated from another state and were not familiar with the area at all. We were 100% confident and comfortable with John during the entire process. If you're looking for a Charlotte agent, John Walker is the one!

    The Robinson Family, Charlotte NC
  • John Walker was extremely helpful to me during my recent search and purchase of my new home. He was always available by e-mail and phone and responded quickly to any question I had. Being from out of state made things a little more complicated during the purchasing procedure, but John was there to help me every step of the way! I HIGHLY recommend him for all of your real estate needs.

    The Burkes, Harrisburg NC
  • John is a knowledgeable and attentive agent who worked hard to get us a house in Charlotte that fit our needs. He is really the perfect agent because he did not pressure us at all, but would respond to our questions and requests right away. He really listened to what we wanted and helped us to find a house that we love. We really think John is a wonderful agent and would happily recommend him to anyone!

    The Larson Family, Mooresville NC
  • Only five stars? My partner and I give him ten! Greg describes John as a true pro - a RealtorĀ® who is proactive in helping his clients both find the home of their dreams and then negotiate and navigate the complicated process of acquiring it. What impressed me most was his willingness to listen.

    The Osengas, Charlotte NC
  • John was extremely helpful and was quick assist us in all aspects of the search for and purchase of our new home. I highly recommend him to anyone who is looking for a home in the Charlotte, Mint Hill area.

    The Vorhies Family, Mint Hill NC
  • John acted as my buyer's agent to help me purchase this home and I highly recommend him to other buyers. Having spent his whole life here, John has deep and relevant knowledge of the Charlotte market that guided my decisions. He was able to walk me through every step of the process and help me stay a few steps ahead of the game. John also introduced me to the partners I needed to complete my purchase.

    Mr. Schmidt, Waxhaw NC
  • My wife and I are new to the Charlotte area. We started working with John months before we had even moved down here and from day one he was always super responsive and helpful while never at any point pushy. John was also extremely patient with us and would give us honest feedback on homes because he was not just trying to get us into a home, he wanted to make sure we were making the best decision.

    Keith and Leane Fochi, Charlotte NC


The data relating to real estate on this Web site derive in part from the Carolina Multiple Listing Services, Inc. IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither John Walker nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2017 Carolina Multiple Listing Services, Inc.

Last updated on Apr 26, 2017.

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