subject: Toronto Real Estate: Determining the Price by:Robert Kennedy [print this page] When you wish to put up Toronto homes for sale, you will have to consider different things with regard to setting the price. Everyone wants to sell his or her home at the highest price possible but determining what is a realistic price is an art that real estate agents have mastered. Setting a price that is too low poses a danger because you do not want to undervalue your home or property and allow buyers to wonder what is wrong with it, why it is priced so low. The trick is to set a price that will not just satisfy you and your financial requirements, but your potential buyers as well.
The first thing to consider is the current market value. Market value simply is the amount of money that buyers are willing to part with for comparable homes in comparable neighborhoods. It is the general value of a home in a particular location. This value is usually never disputed - it sets the standard and people can judge or determine prices from this value.
If you choose to use an agent, let them suggest an asking price. Agents in this industry are likely to know all about different prices. Therefore, it is in your best interest to have an agent guide you in all aspects of the home sale, not just with the asking price. The asking price will be based on market research and the different trends of prices in the industry. The market analysis or research takes into account several recently sold properties with similar lot size, number of rooms, square footage and special features like swimming pools. Based off of this information and the timeframe you are looking to complete the sale in, the agent will be able to determine a reasonable asking price.
If you are selling your personal family home, it is perfectly normal to have sentimental attachments and feelings that the home is worth more than it is. Unfortunately, market values do not regard personal feelings. So, be sure to hire an agent whos judgment you trust, and then let them do their job and set the price of your home for you.
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