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How To Price Your Home

Setting the price at the time of listing your home is one of the most important factors to a quick and successful sale. Your home has the greatest momentum when it first enters the market and having a fair market price at the onset of your listing is key. The concept of “testing” the market […]
More How-To's

How To Price Your Home

Setting the price at the time of listing your home is one of the most important factors to a quick and successful sale. Your home has the greatest momentum when it first enters the market and having a fair market price at the onset of your listing is key. The concept of “testing” the market can often backfire when you start with a price too high when you are ultimately willing to accept much less. This turns away initial buyers, often leaving them wondering if you are serious about selling your home at this moment in time..

With the homeFree advantage, calculating the commission you would save if you were using a traditional real estate model, ( typically 7% on the first $100k and 3.5% on the balance of sale price)* is the first factor to consider.

The homeFree Advantage allows you to be more competitive in the marketplace. Take this into consideration when choosing your initial list price. Additionally, there is no need to leave significant room for negotiation. IF you list at a firm but fair price, buyers will recognize this and this will create significant interest in your listing and generate serious offers faster. Remember, the market value of anything is what a buyer is willing to pay.  Furthermore, most buyers will require financing and lenders will only lend to a maximum mortgage for a home that is purchased at the appraised value.

APPRAISAL: A licensed real estate appraisal is a professional opinion of the market value of a property, conducted by a licensed appraiser. A licensed real estate appraiser is a certified professional who has undergone extensive training and education to be able to accurately evaluate a property’s current market value. Licensed real estate appraisals are commonly used for mortgage financing.  The homeFree Advantage:  At homeFree sellers instantly have a competitive pricing advantage when not having to factor in commissions.

COMPARATIVE MARKET ANALYSIS (CMA):  An agents “free market evaluation” is an analysis of a property’s value in the current real estate market. It’s important to note that a market evaluation is not the same as an appraisal, which is conducted by a licensed appraiser.  In a CMA, agents use data of sold properties and sold comparable properties to suggest a listing range. CMA’s only provide a range of value, not exact value.  It is also important to note that a CMA is not “Free” when there is $19,000. They  may attempt to suggest a price that secures them a listing.  It has been known that realtors may overvalue a property through their  “Free CMA” to secure a listing agreement and shortly after, they suggest you lower your price.  For them, it is a negligible change in their commissions: for a homeowner, that may be a significant amount of equity they were expecting from the sale of their home.

www.homefree.com provides you access to research comparables so you are informed in settings the right asking price from the beginning.

homeFree highly recommends that sellers opt-in for the appraisal. For only $197 you will rest assured that you are priced right for the market. That’s a small price to pay for peace of mind, and it will ultimately save you time and money, and don’t forget, buyers financing will only be approved on appraised value.

NOTES: *Commissions are negotiable, there are no set standard commissions. **Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent. ***Commission calculations are based on a 7/3 split on a $475,000 home

SELL SIMPLE.
BUY BETTER.

With homeFree, it’s easy! Finally, a platform that connects buyers and sellers. Offering support and service every step of the way, we save you money and give you back control.
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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

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* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.

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