Comparative Market Analysis
Data-driven decisions for confident selling .
Therearesomanyadvantages toaffiliatingwithus.
Weareexcitedabout thepossibilitiesahead andtheprospect of collaboratingwithyou.
WhyUseaRealtor®?
When selling your home, your REALTOR® can provide up-to-date information on what is happening in the marketplace, including pricing, financing, and terms of comparable properties. These are key factors in achieving a successful sale at the best possible price in the shortest amount of time
Only real estate licensees who are members of the National Association of REALTORS®may use the title REALTOR®. REALTORS®subscribe to a strict Code of Ethics and are held to a higher standard of professionalism and knowledge throughout the buying and selling process They are committed to treating all parties in a transaction honestly and fairly. REALTOR® business practices are monitored at the local board level, with arbitration and disciplinary systems in place to address complaints from the public or other members
Your REALTOR® can objectively evaluate every buyer?s proposal and help prepare an appropriate, legally binding sales agreement. Between the initial agreement and settlement, questions or issues may arise For example, unexpected repairs may be required to obtain financing, or a title issue may be discovered. Your REALTOR®is the best resource to help resolve these matters and keep the transaction moving smoothly to settlement
BrandMarketing
A brand conveys a perception and emotional appeal with consumers and tells them what they can expect from an organization. The Sotheby's International Realty® brand marketing strategy is to develop and curate quality content, delivered across multiple platforms in order to create and maintain global brand recognition and drive more consumers to sothebysrealty com
sothebysrealty.com
sothebysrealty.com attracts more consumers to search, view and inquire than any other luxury real estate website Millions of viewers immerse themselves in our collection of vibrant, full screen high definition videos and photography
sothebysrealty com also offers 3D and Virtual Reality Tours, 17 languages and featured lifestyle and destination content A home presented with such in-depth and unique content has a much higher success rate capturing search engine inquiries and engaging online consumers
UnparalleledReach
A Unique Home Deserves Special Attention
We offer a white-glove service that distributes your property listing brochure to Sotheby's International Realty offices around the country and the world This program exposes your property to potential home-buyers who seek properties of distinctive character.
Your property brochure can also be displayed at Sotheby's auction house and sales rooms in New York, London and other worldwide locations. Among the world's most popular places to see and experience exceptional art, jewelry and collectibles, only your Sotheby's International Realty®associate can offer such as exclusive access to so many of the world's most qualified buyers
GlobalMediaPartnerships
With an emphasis on brand exclusivity, cutting-edge advertising technologies, strategic positioning, social traffic drivers and video content integration, the Sotheby's International Realty® brand utilizes hand-selected media powerhouses whose innovation, experience and international impact allow our brand to successfully connect with a global consumer
Determiningthe ValueofYour Home
Your property will need to be uniquely positioned to create maximum interest.
Although the listing price you place on your property will influence it's sale,there are many other factors that come into play Some of these factors are within your control,others are not
FACTORS NOT WITHIN YOUR CONTROL
- Your property's location
- Recent property market values
- Current economic indicators
FACTORS WITHIN YOUR CONTROL
- Your property's distinctive and compelling attributes
- The physical condition of your property (home and grounds)
- The closing date you prefer
- The ready access to your property for showing
- The selection of the real estate sales professional you choose to represent you
FACTORS TO CONSIDER
- A house that is priced right from the beginning achieves the highest proceeds.
- Take advantage of the initial excitement your home will draw its first weeks on the market by realistic pricing The desired end result is to find a price that will attract a buyer in a reasonable time
- Based on supply and demand,the market determines the price
- Market research assists in determining Opinion of Value Our Comparative Market Analysis considers both recent transfers as well as active listings
- Ultimately the selling price will be determined by not only comparable properties but by competing buyers Buyers will establish a "worth" that your property has to them
- The buying public determines the market value of your home There is no exact price for real estate However,pricing does affect salability
TheImportanceof Intelligent Pricing
Determining the best asking price for a home can be one of the most challenging aspects of selling a home It is also one of the most important If your home is listed at a price that is above market value, you will miss out on prospective buyers who would otherwise be prime candidates to purchase your home If you list at a price that is below market value, you will ultimately sell for a price that is not the optimum value for your home As fig No 1 illustrates, more buyers purchase their properties at market value than above market value The percentage increases as the price falls even further below market value. Therefore, by pricing your property at the market value, you expose it to a much greater percentage of prospective buyers This increases your chances for a sale while ensuring a final sale price that properly reflects the market value of your home.
Another critical factor to keep in mind is when pricing your home is timing A property attracts the most attention, excitement and interest from the real estate community and potential buyers when it is first listed on the market (see fig No 2) Improper pricing at the initial listing misses out on this peak interest period and may result in your property languishing on the market This may lead to a below market value sale price (see fig No 3), or, even worse, no sale at all Therefore, your home has the highest chances for a fruitful sale when it is new on the market and the price is reasonably established
We can give you up-to-date information on what is happening in the marketplace and the price, financing terms, and condition of the competing properties These are key factors in getting your property sold at the best price, quickly and with minimum hassle fig No 3
KeyMarket Factors
How long does it take to sell a property? Some properties sell in a few days, others may take several months By recognizing some key factors that influence marketing a home, you can get significant control over market time
The proper balance of these factors will expedite your sale:
LOCATION
Location is the single greatest factor affecting value. A neighborhood's desirability is basic to a property's fair market value.
COMPETITION
Buyers compare your property against others in that neighborhood Buyers interpret value based on available properties on the market
TIMING
The real estate market may reflect a "buyers" or "sellers" market. Market conditions cannot be manipulated; an individually tailored marketing plan of action must be developed for each property
CONDITION
The property condition will affect price and speed of sale Optimizing physical appearance and advance preparation for marketing maximizes value
TERMS
The more terms available, the larger the market, the quicker the sale and the higher the price Terms structured to meet your objectives are important to successful marketing
PRICE
If the property is not properly priced, a sale may be delayed or even prevented Reviewing the Comparative Market Analysis assists you in determining the best possible price
InConclusion
While real estate by nature is local, the market for your home is in reality national, and increasingly, global. Sotheby's International Realty is part of this global network, which includes offices in the world's most sought-after locations
Selecting Sotheby's International Realty to represent your property will connect you to a group of real estate professionals widely respected for the quality of their listings and the level of professionalism and expertise they offer Our associates have a deep understanding of local real estate markets and strong ties to the communities we serve. We share a strong commitment to delivering exceptional service and have a long history of exceeding the expectations of the world's most discerning buyers and sellers.
WE LOOK FORWARD TO OFFERING YOU SEVERAL UNIQUE ADVANTAGES INCLUDING
- Preeminent local expertise and contacts.
- Access to proprietary marketing materials
- Strong relationships,marketing and brand recognition in other key markets.
- A referral connection with some of the world's most successful agents
- A proven ability to sell properties in all price ranges.
- A comprehensive internet marketing strategy that includes featuring your property on sothebysrealty.com, and sothebys.com,and distribution partners such as thewallstreetjournal com, newyorktimes com,yahoo com,openhouse com,trulia com and frontdoor com
- Cross-marketing opportunities with strategic partners like Sotheby's auction house
- The level of service that clients have come to expect from the name Sotheby's
