Think like a buyer when pricing your home

So often we get hung up on past sales when we are pricing property and of course that is an important thing to consider. But when buyers are shopping for property they are aren’t paying attention to past sales. The only thing on their mind is this, “What is available to buy right now?” Before we decide on a final list price for our listings we pretend to be the buyer for that type of home and we go tour other similar properties and see how they compare to ours. And it’s important to physically look at these homes instead of just flipping through pics because that’s what your buyers will be doing. This strategy often provides excellent insights into what the market is doing right now. Not what it was doing 6 months or a year ago. And in this low inventory market after going through this exercise we often find ourselves saying “wow there is nothing like this property available right now.”