2016-12-02

Setting Proper Listing Price

Providing seller services including evaluation of their homes and setting the proper list pricing to sell the home in Absecon, Galloway Township, Brigantine, Linwood, Northfield, Ocean City, Egg Harbo

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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 Absecon, Galloway Township, Brigantine, Linwood, Northfield, Ocean City, Egg Harbor Township, Port Republic, Somers Point, Mays Landing, Atlantic City, Margate City, Longport, Ventnor City, and Upper Township 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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1 1/2 Story 11 - 20 Units 2 Story 21 - 50 Units 3 Story 4 - 10 Units 51 - 100 Units A-Frame Bi-Level Bungalow Business Only,Restaurant Business Only,Retail Business Only,comm. W/apartments,retail Business Only,Retail,Restauran Business Only,commercial,comm. W/apartments Business Only,commercial,comm. W/apartments,light Industrial,office Building,retail,restaurant,warehouse Business Only,commercial,comm. W/apartments,office Building,off./prof. Condo,retail,restaurant,other (see Remarks) Business Only,commercial,comm. W/apartments,office Building,retail,restaurant,restaurant & Bar Business Only,commercial,commercial Condo,office Building,off./prof. Condo Business Only,Commercial,Commercial Condo,Retail,Restaurant,Other (See Remarks) Business Only,commercial,heavy Industrial,office Building,off./prof. Condo,retail,restaurant,warehouse Business Only,commercial,heavy Industrial,warehouse Business Only,commercial,hotel,light Industrial,motel,office Building,retail,warehouse Business Only,commercial,light Industrial Business Only,commercial,liquor License,other (see Remarks) Business Only,Commercial,Office Building Business Only,commercial,office Building,off./prof. Condo,retail,restaurant Business Only,commercial,office Building,retail Business Only,commercial,office Building,retail,other (see Remarks) Business Only,commercial,office Building,retail,restaurant,other (see Remarks) Business Only,Commercial,Restaurant Business Only,Commercial,Retail Business Only,commercial,retail,restaurant Business Only,Commercial,Warehouse Business Only,Office Building, Business Only,liquor License,other (see Remarks) Business Only,Off./Prof. Condo Business Only,office Building,off./prof. Condo Business Only,office Building,off./prof. Condo,retail,other (see Remarks) Business Only,office Building,other (see Remarks) Business Only,office Building,retail,restaurant Business Only,other (see Remarks) Business Only,retail,restaurant Business Only,retail,restaurant,other (see Remarks) Business Only,warehouse Cape Cod Co-op Colonial Comm. W/apartments Comm. W/apartments,light Industrial,warehouse Comm. W/apartments,liquor License,office Building,restaurant,restaurant & Bar Comm. W/apartments,liquor License,retail Comm. W/apartments,marina,other (see Remarks) Comm. W/apartments,marina,retail Comm. w/Apartments,Retail,Warehouse Comm. W/apartments,off./prof. Condo,retail,other (see Remarks) Comm. W/apartments,office Building Comm. W/apartments,office Building,other (see Remarks) Comm. W/apartments,office Building,restaurant Comm. W/apartments,office Building,retail Comm. W/apartments,other (see Remarks) Comm. W/apartments,restaurant,other (see Remarks) Comm. w/Apartments,Retail Comm. W/apartments,retail,other (see Remarks) Comm. W/apartments,retail,restaurant Commercial,Warehouse Commercial Condo,Office Buildi Commercial Condo,comm. W/apartments Commercial Condo,comm. W/apartments,off./prof. Condo Commercial Condo,Industrial Condo,Off./Prof. Condo,Warehouse Condo Commercial Condo,light Industrial,office Building Commercial Condo,light Industrial,office Building,off./prof. Condo,warehouse Condo Commercial Condo,Retail Commercial Condo,off./prof. Condo,retail Commercial Condo,off./prof. Condo,retail,restaurant Commercial Condo,office Building Commercial Condo,office Building,off./prof. Condo Commercial Condo,office Building,off./prof. Condo,retail Commercial Condo,office Building,retail Commercial Condo,Retail,Restau Commercial Condo,Other (See Remarks) Commercial Condo,retail,restaurant Commercial Condo,warehouse Commercial Condo,warehouse,warehouse Condo Commercial,Warehouse,Other (Se Commercial,Retail,Other (See R Commercial,comm. W/apartments,hotel,motel,other (see Remarks) Commercial,comm. W/apartments,hotel,office Building,retail Commercial,comm. W/apartments,light Industrial,office Building,warehouse Commercial,comm. W/apartments,light Industrial,warehouse Commercial,comm. W/apartments,marina,off./prof. Condo Commercial,comm. W/apartments,marina,office Building,retail,restaurant & Bar,warehouse Commercial,comm. W/apartments,off./prof. Condo Commercial,comm. W/apartments,off./prof. Condo,retail,restaurant Commercial,comm. W/apartments,office Building Commercial,comm. W/apartments,office Building,off./prof. Condo,other (see Remarks) Commercial,comm. W/apartments,office Building,off./prof. Condo,retail,warehouse Commercial,comm. W/apartments,office Building,retail Commercial,comm. W/apartments,office Building,retail,other (see Remarks) Commercial,comm. W/apartments,office Building,retail,restaurant,warehouse Commercial,Comm. w/Apartments,Office Building,Retail,Warehouse Commercial,comm. W/apartments,office Building,retail,warehouse,other (see Remarks) Commercial,comm. W/apartments,other (see Remarks) Commercial,comm. W/apartments,restaurant Commercial,comm. W/apartments,restaurant & Bar Commercial,comm. W/apartments,restaurant,restaurant & Bar,other (see Remarks) Commercial,Comm. w/Apartments,Retail Commercial,comm. W/apartments,retail,restaurant Commercial,comm. W/apartments,retail,restaurant,restaurant & Bar,warehouse,other (see Remarks) Commercial,comm. W/apartments,retail,warehouse Commercial,Commercial Condo,Comm. w/Apartments,Office Building,Off./Prof. Condo,Retail,Restaurant,Restaurant & Bar Commercial,Commercial Condo,Comm. w/Apartments,Other (See Remarks) Commercial,Commercial Condo,Hotel,Motel,Office Building,Off./Prof. Condo,Retail,Restaurant,Restaurant & Bar,Warehouse,Ot Commercial,Commercial Condo,Hotel,Motel,Office Building,Retail,Restaurant Commercial,commercial Condo,industrial Condo,light Industrial,warehouse,warehouse Condo Commercial,commercial Condo,light Industrial,office Building,retail,warehouse Commercial,commercial Condo,marina,retail,restaurant,other (see Remarks) Commercial,commercial Condo,off./prof. Condo,retail Commercial,commercial Condo,off./prof. Condo,retail,other (see Remarks) Commercial,commercial Condo,office Building,off./prof. Condo Commercial,commercial Condo,office Building,off./prof. Condo,retail Commercial,commercial Condo,retail Commercial,Commercial Condo,Retail,Restaurant Commercial,heavy Industrial,light Industrial,warehouse Commercial,heavy Industrial,warehouse Commercial,Industrial Condo Commercial,light Industrial,motel,retail,restaurant,other (see Remarks) Commercial,light Industrial,office Building,off./prof. Condo,retail Commercial,Light Industrial,Office Building,Off./Prof. Condo,Warehouse,Warehouse Condo Commercial,light Industrial,office Building,retail,restaurant,restaurant & Bar,warehouse Commercial,light Industrial,office Building,retail,restaurant,warehouse,other (see Remarks) Commercial,light Industrial,office Building,retail,warehouse Commercial,light Industrial,office Building,retail,warehouse,other (see Remarks) Commercial,light Industrial,office Building,warehouse Commercial,Light Industrial,Office Building,Warehouse,Other (See Remarks) Commercial,light Industrial,other (see Remarks) Commercial,light Industrial,retail,other (see Remarks) Commercial,light Industrial,retail,warehouse Commercial,Light Industrial,Warehouse Commercial,light Industrial,warehouse,other (see Remarks) Commercial,liquor License,restaurant Commercial,liquor License,restaurant & Bar Commercial,liquor License,restaurant & Bar,other (see Remarks) Commercial,liquor License,restaurant,restaurant & Bar Commercial,liquor License,retail,restaurant,restaurant & Bar Commercial,marina,office Building,off./prof. Condo Commercial,marina,office Building,off./prof. Condo,retail,restaurant,restaurant & Bar Commercial,motel,other (see Remarks) Commercial,off./prof. Condo,restaurant Commercial,off./prof. Condo,retail Commercial,off./prof. Condo,retail,other (see Remarks) Commercial,off./prof. Condo,retail,restaurant,other (see Remarks) Commercial,office Building,off./prof. Condo Commercial,office Building,off./prof. Condo,other (see Remarks) Commercial,Office Building,Off./Prof. Condo,Retail Commercial,office Building,off./prof. Condo,retail,restaurant Commercial,Office Building,Other (See Remarks) Commercial,Office Building,Restaurant Commercial,Office Building,Retail Commercial,office Building,retail,other (see Remarks) Commercial,Office Building,Retail,Restaurant Commercial,office Building,retail,restaurant,other (see Remarks) Commercial,office Building,retail,restaurant,restaurant & Bar,warehouse Commercial,office Building,retail,restaurant,warehouse Commercial,office Building,retail,warehouse Commercial,office Building,retail,warehouse,other (see Remarks) Commercial,office Building,warehouse Commercial,restaurant & Bar Commercial,restaurant,other (see Remarks) Commercial,Retail,Other (See Remarks) Commercial,retail,restaurant,other (see Remarks) Commercial,retail,restaurant,restaurant & Bar,warehouse Commercial,retail,restaurant,warehouse Commercial,Retail,Warehouse Commercial,retail,warehouse,other (see Remarks) Commercial,warehouse Condo Commercial,warehouse,other (see Remarks) Condo Contemporary Converted Apartments,Duplex Converted Apartments,converted Motel Converted Motel,Townhouse Cottage Detached,Townhouse Duplex Duplex,Townhouse Dutch Colonial Floating Home Fractional Ownership Heavy Industrial Historical Hotel,Other (See Remarks) Hotel,Liquor License,Restaurant,Restaurant Bar,Other (See Remarks) Industrial Condo Industrial Condo,light Industrial,office Building,off./prof. Condo,warehouse,warehouse Condo Light Industrial,Warehouse Light Industrial,Warehouse,Oth Light Industrial,office Building Light Industrial,office Building,warehouse Light Industrial,warehouse,other (see Remarks) Liquor License,Retail,Restaura Liquor License,restaurant & Bar Liquor License,restaurant & Bar,other (see Remarks) Liquor License,restaurant,restaurant & Bar Liquor License,retail,restaurant & Bar Liquor License,retail,restaurant,restaurant & Bar Log Home Marina,Off./Prof. Condo Marina,other (see Remarks) Marina,restaurant,other (see Remarks) Marina,retail Mobile Home Motel Off./Prof. Condo,Retail Off./prof. Condo,retail,restaurant Office Building,Retail Office Building,Other (See Rem Office Building,Off./Prof. Condo Office Building,off./prof. Condo,retail Office Building,other (see Remarks) Office Building,restaurant & Bar,warehouse Office Building,Warehouse Office Building,retail,other (see Remarks) Office Building,Warehouse,Othe Office Building,Retail,Restaurant Office Building,Retail,Warehouse,Other (See Remarks) Office Building,Warehouse,Other (See Remarks) Other Other (see Remarks) Others Pud Ranch Restaurant Restaurant Bar Restaurant & Bar Restaurant,other (see Remarks) Retail Retail,Other (See Remarks) Retail,Restaurant Retail,warehouse,other (see Remarks) Semi-det/1/2dbl Split Level Timeshare Townhouse Triplex Tudor Upside Down Victorian Warehouse Warehouse Condo Warehouse,Other (See Remarks)

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Contact Info

Agent

Gary Simmens

802 Tilton Road Suite 202 Northfield New Jersey 08225

609-338-1339 609-338-1339 gary4results@aol.com

Translator

Contact Me

Listing Courtesy of Keller Williams The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional Multiple Listing Service. Real Estate listings held by brokerage firms other than Keller Williams are marked with the Broker Reciprocity logo (a little black house) and detailed information about them includes the name of the listing brokers.

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