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Competition
IS Strong
Your property will be competing for
qualified buyers attention both with similar properties as well
as those of totally different designs, sizes, features,
amenities, both locally and in other communities.
Your price must be very competitive or you
won't be selling in today's market place. Your competition
is fierce.
No two properties are the exactly the same, you have to
compensate for the differences between properties. Buyers
will compare properties in the same area plus within several
miles of where they'd like to live.
This is why your
asking price must be based on a thorough Competitive and
Comparative Market Evaluation.
Competitive
(you are competing for buyers against other home sellers)
and
Comparative (buyers will be comparing your property
against all the others in your area and other areas to see
where they might get the best value for what they want to spend
for their new home so you also need to be informed
about what's nearby communities. The buyers will know.)
You have to see the big picture,
just like a buyer will, by
getting a snapshot of available properties in your area as well
as nearby communities.
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