Page 4 - Pricing Your Home

What Really Determines Value?

Many factors determine the value of your home. Your experienced sales professional has the expertise and tools
to analyze market data, present it to you and to buyers in its most useful form and counsel you on pricing.

LOCATION

Neighborhoods that are close to conveniences such as shopping, schools and transportation typically sell for great-
er amounts. Attractive views of the Chicago skyline or of Lake Michigan also will make a difference.

PROPERTY LOCATION

It is important to look at your property through the “buyers’ eyes”. Make sure your property is in the best possi-
ble condition at each showing. Try to appeal to the most potential buyers by offering neutral décor and fixtures,
and keeping clutter to a minimum. Buyers will also look at the structural and mechanical elements of your home.

MARKET CONDITIONS

The economic climate, interest rates, buyer demand, prices of recent sales and seasonal demand all affect the price
and sale of your home.

COMPARABLE MARKET PRICING

Homes must be priced within an appropriate range based on the current market value. You are not only selling
your home to the buyer, you need to “sell” it to the appraiser. Buyers are more subjective as they compare amen-
ities and determine the value based on their won needs and preferences. Appraisers are more subjective, compar-
ing age, size and cost-identifiable features of your home with other similar properties which have sold.

WHAT DOES NOT AFFECT THE VALUE?

Factors that do not affect value include the original price of your home, proceeds that you want or need from the
sale, or other people’s opinions about what they think your property is worth.

ULTIMATELY, THE VALUE OF YOUR HOME
IS WHAT THE BUYER IS WILLING TO PAY!