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Pricing in the Land of "No Comps"

Pricing in the Land of "No Comps"
Agents already list confidence in pricing as one of the biggest challenges in their business. But throw a property in the mix with few or no current comparables and you might throw up your hands and declare a, "comparable calamity!"
But armed with just a few pricing tools, you can walk into a seller's home with confidence, knowing you have done absolutely everything you can to provide the seller with a  price or price range that could be supported by the market.
A "comparable" is a similar home or property which has sold recently in a similar area. However, in many areas, the market is much faster-paced than it was just a few months ago, with shorter days-on-market numbers, and with limited inventory, some areas either just don't have that many sales or don't have any comparable properties.
Or sometimes, the property is so unique, there is just nothing that compares to it.
When I was an agent, I had a number of sellers in similar situations. One seller in particular called me one day to list her home. It was a beautiful home. Gorgeous! High end finishes on a stunning piece ... more

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