When it comes to finding a buyer, pricing your home based off of comparable, real-priced sales is crucial to making the sale. The Comparative Market Analysis is imperative to pricing strategically. When you ask for one from a real estate professional, be sure to review the analysis, ask questions, and get explanations. If completed correctly, this comparison report not only gives you a great listing price, but also reduces the chance of your home being under-appraised. If you have a well-priced home, you should be showing within the first few days on the market. Offers should come within weeks. For some of you who were paying attention to the real estate market during and the years following COVID, may have just raised an eyebrow. You may be thinking "a few days before my first showing" or "a few weeks before my first offer?" "People were knocking down my neighbors door before they started showings at the open house on the weekend and they had 20 offers in hand on Tuesday and picked the best!" I would like to note a couple things to the people thinking that. As a write this book, we are still in that insane seller's market; but this will not last forever. The market stimply cannot withstand this pressure forever. First, as a seller of a luxury home, even in a wild seller's market, your home is inevitably going to take a little bit longer to sell. The reason being, the clientele for your home is much more limited, due to the price. You are a luxury homeowner, and you will need to find a qualified luxury buyer. I point this out, because your happiness and satisfaction of selling your house, as with anything else, depends on your expectations. Secondly, the market was so hot due to the principal of supply and demand. There were too many buyers and not enough sellers. People desperately wanted to get their house sold for 10-25% over list price; but prospective sellers did not end up listing or closing, because when they turned around to buy their next home, the roles reversed and they too had to pay 10-25% over list price.
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