Are you thinking about putting your Tulsa home on the market? One of the most important things to think about is the list price. This is one of the first things home buyers look at when searching for a home. But pricing your home to capture buyers’ attention and sell quickly takes a bit of finesse and expertise. That is where “comps” come into play.
Comps Can Help You Sell Your Tulsa Home
What Are They?
You cannot always trust that those online home value estimators are accurate. It makes more sense to look at “comps” when trying to decide your home’s list price. These are the amount of what homes comparable to yours sold for recently. To be considered a good comparison, the other homes used for this must be similar in size, age, style, and location. Preferably, you should use only use comps of homes sold within the last 30 to 90 days.
How Do You Find and Use Them?
You can do the footwork yourself and look at various real estate websites, talk to title companies, or use an online home valuation tool. Or you can simply talk to your real estate agent and have them put together a Comparative Market Analysis (CMA) for you. The MLS provides the most current and accurate sales information for a local region. However, only agents and appraisers may access it. So, talk to your agent first. Let them do the work for you.
Comps provide a real-time look at what a seller can expect a buyer to pay for their home at the time they list it. Price it too high and you increase your chances of it sitting on the market for a while. Eventually, you may need to lower the price a couple of times before you find a buyer. Then, you may end up selling it for much less than you would have if you had priced it appropriately to begin with. Plus, you wasted all that time waiting for a buyer.
When you are ready to list your property on the Tulsa market, contact me. I am always happy to help.
