The importance of previewing the competition

Many agents and sellers overlook the value of previewing properties before putting a home on the market.  Previewing saves time, and it allows both the agent and seller to get a feel for the direct competition.  It is important to understand that buyers are looking at the competition that are currently on the ACTIVE market.  

By taking the time to preview properties it allows you to see exactly how you stack up against the current competition.  The most important factor in selling a home is the PRICE.  Previewing allows you to pinpoint a price that allows you to be competitive in the marketplace.  Unfortunately, many sellers base their price on what they need, want or what they paid for the property.  Market value is determined by the market.

I understand that it is very hard to judge your own home in terms of value.  I own several rental properties and I know firsthand that I notoriously think my rentals are somehow worth more than their true market value.  I overlook items that I have come accustomed to that might have an impact on value.  Previewing homes in the area allows you to look at your home in a slightly different light.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate