Comparative Market Analysis
Therearesomanyadvantages toaffiliatingwithus.
Weareexcitedabout thepossibilitiesahead andtheprospect of collaboratingwithyou.
Amanda Perkins
WhyUseaRealtor®?
Whensellingyour home,your REALTOR®cangiveyouup-to-dateinformationonwhat ishappeningin themarketplaceincludingprice,financingandtermsof completingproperties.Thesearekey factorsina successfulsaleofyour propertyat thebest priceintheleast amount oftime
Only real estatelicenseeswho aremembersof theNATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. REALTORS® subscribe to a strict code of ethics and are expected to maintainahigher level of knowledgeof theprocessof buyingandsellingethicsareexpectedtomaintaina higher level of knowledgeof theprocessof buyingandsellingreal estate Theyarecommittedtotreat all parties to a transaction honestly. REALTOR® business practices are monitored at local board levels. Arbitration and disciplinary systemsarein placeto addresscomplaintsfrom thepublic or other board members.
Your REALTOR®canyouobjectivelyevaluateeverybuyer'sproposal andthenhelpwriteanappropriate legally bindingsaleagreement Between theinitial salesagreement and settlement,questionsmay arise For example, unexpected repairs may be required to obtain financing or a problem with the title is discovered Your REALTOR®isthebest persontohelpyouresolvethoseissuesandmovethetransaction tosettlement.
BrandMarketing
A brand conveysaperception and emotional appeal with consumersand tells themwhat they can expect froman organization.TheSotheby'sInternational Realty® brand marketing strategy is to develop and curate quality content, deliveredacrossmultipleplatformsinorder tocreateandmaintainglobalbrand recognitionanddrivemoreconsumerstosothebysrealtycom
sothebysrealty.com
sothebysrealty.com attractsmoreconsumersto search, view and inquirethan anyother luxuryreal estatewebsite.Millionsof viewersimmersethemselvesin our collection of vibrant, full screen high definition videosand photography. sothebysrealtycom also offers3D and Virtual Reality Tours, 17languagesand featuredlifestyleanddestinationcontent Ahomepresentedwithsuchin-depth and unique content has a much higher success rate capturing search engine inquiriesandengagingonlineconsumers.
UnparalleledReach
A UniqueHomeDeservesSpecial Attention.
Weoffer awhite-gloveservicethat distributesyour propertylistingbrochureto Sotheby'sInternational Realty officesaround thecountry and theworld.This programexposesyour property to potential homebuyerswho seek properties ofdistinctivecharacter.
Your property brochurecan also bedisplayed at Sotheby'sauction houseand salesroomsin New York,London and other worldwidelocations.Amongthe world'smost popular placestoseeandexperienceexceptional art,jewelry and collectibles,onlyyour Sotheby'sInternational Realty® associatecanoffer such asexclusiveaccesstosomanyoftheworld'smost qualifiedbuyers.
GlobalMediaPartnerships
With an emphasison brand exclusivity,cutting-edgeadvertisingtechnologies, strategic positioning, social traffic drivers and video content integration, the Sotheby's International Realty® brand utilizes hand-selected media powerhouseswhoseinnovation,experienceandinternational impact allow our brandtosuccessfullyconnect withaglobalconsumer
Determiningthe ValueofYour Home
Your property will need to beuniquely positioned to createmaximum interest
Althoughthelistingpriceyouplaceonyour property will influenceit'ssale,therearemany other factors that comeintoplay Someofthesefactorsarewithinyour control,othersarenot
FACTORS NOT WITHIN YOUR CONTROL
- Your property'slocation
- Recent propertymarket values
- Current economicindicators
FACTORS WITHIN YOUR CONTROL
- Your property'sdistinctiveandcompellingattributes
- Thephysicalconditionofyour property(homeandgrounds)
- Theclosingdateyouprefer
- Thereadyaccesstoyour propertyfor showing
- Theselectionoftherealestatesalesprofessionalyouchoosetorepresent you
FACTORS TO CONSIDER
- Ahousethat ispricedright fromthebeginningachievesthehighest proceeds.
- Takeadvantageof theinitial excitement youhomewill draw itsfirst weeksonthemarket byrealistic pricing.Thedesiredendresult istofindapricethat willattract abuyer inareasonabletime.
- Basedonsupplyanddemand,themarket determinestheprice.
- Market research assists in determining Opinion of Value. Our Comparative Market Analysis considersbothrecent transfersaswellasactivelistings.
- Ultimately thesellingpricewill bedetermined by not only comparablepropertiesbut by competing buyers.Buyerswillestablisha"worth"that your propertyhastothem.
- Thebuyingpublicdeterminesthemarket valueof your home Thereisnoexact pricefor real estate However,pricingdoesaffect salability.
TheImportanceof Intelligent Pricing
Determining thebest asking pricefor ahomecan beone of the most challengingaspectsof sellingahome.It isalsooneof themost important If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwisebeprimecandidatestopurchaseyour home If youlist at apricethat isbelow market value,youwill ultimatelysell for aprice that isnot theoptimumvaluefor your home Asfig No1illustrates, morebuyerspurchasetheir propertiesat market valuethan above market value The percentage increases as the price falls even further below market value Therefore,bypricingyour propertyat the market value, you expose it to a much greater percentage of prospective buyers This increases your chances for a sale while ensuringafinal salepricethat properlyreflectsthemarket valueof your home
Another critical factor tokeepinmindiswhenpricingyouhomeis timing A property attracts the most attention, excitement and interest fromthereal estatecommunityandpotential buyerswhenit isfirst listed on themarket (see fig. No 2) Improper pricingat the initial listingmissesout onthispeakinterest periodandmayresult in your property languishingon themarket.Thismay lead to abelow market valuesaleprice(see fig No 3),or,even worse,no saleat all Therefore,your homehasthehighest chancesfor afruitfulsalewhen it isnewonthemarket andthepriceisreasonablyestablished. Wecangiveyouup-to-dateinformationonwhat ishappeninginthe marketplace and the price, financing terms, and condition of the competingproperties.Thesearekeyfactorsingettingyour property soldat thebest price,quicklyandwithminimumhassle
fig.No 2
fig.No 2
NUMBER OF WEEKS ON MARKET
fig No 3
KeyMarket Factors
How long does it take to sell a property?Some properties sell in afew days, others may take several months Byrecognizingsomekeyfactorsthat influencemarketingahome,youcanget significant control over market time
Theproper balanceof thesefactorswill expediteyour sale:
LOCATION
Locationisthesinglegreatest factor affectingvalue A neighborhood'sdesirability isbasictoaproperty's fair market value
COMPETITION
Buyers compare your property against others in that neighborhood Buyers interpret value based on availablepropertiesonthemarket
TIMING
Therealestatemarket mayreflect a"buyers"or "sellers"market Market conditionscannot bemanipulated; anindividuallytailoredmarketingplanofactionmust bedevelopedfor eachproperty
CONDITION
Theproperty condition will affect priceand speed of sale. Optimizingphysical appearanceand advance preparationfor marketingmaximizesvalue.
TERMS
The more terms available, the larger the market, the quicker the sale and the higher the price. Terms structuredtomeet your objectivesareimportant tosuccessfulmarketing.
PRICE
Ifthepropertyisnot properlypriced,asalemaybedelayedor evenprevented.ReviewingtheComparative Market Analysisassistsyouindeterminingthebest possibleprice.
InConclusion
Whilereal estatebynatureislocal,themarket for your homeisinrealitynational,andincreasingly,global.
Sotheby'sInternational Realty ispart of thisglobal network,which includesofficesin theworld'smost sought-after locations
SelectingSotheby'sInternational Realty to represent your property will connect you to agroup of real estateprofessionalswidely respected for thequality of their listingsand thelevel of professionalismand expertisetheyoffer Our associateshaveadeepunderstandingoflocalrealestatemarketsandstrongtiesto thecommunitiesweserve Weshareastrong commitment to deliveringexceptional serviceand havea longhistoryofexceedingtheexpectationsoftheworld'smost discerningbuyersandsellers
WE LOOK FORWARD TO OFFERING YOU SEVERAL UNIQUE ADVANTAGES INCLUDING...
- Preeminent localexpertiseandcontacts.
- Accesstoproprietarymarketingmaterials
- Strongrelationships,marketingandbrandrecognitioninother keymarkets.
- Areferralconnectionwithsomeoftheworld'smost successfulagents
- Aprovenabilitytosellpropertiesinallpriceranges
- A comprehensive internet marketing strategy that includes featuring your property on sothebysrealtycom,, and sothebyscom, and distribution partnerssuch as thewallstreetjournalcom, newyorktimescom,yahoocom,openhousecom,truliacomandfrontdoorcom
- Cross-marketingopportunitieswithstrategicpartnerslikeSotheby'sauctionhouse.
- Thelevelofservicethat clientshavecometoexpect fromthenameSotheby's
