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Determining your list price

Real estate agents look at recently sold properties in the area and compare sale prices and features with your property. They call this "pulling comps" or doing a Comparative Market Analysis.

Home Bay provides all of this data in an extensive report. We can also walk you through the details, and provide a pricing stategy tailored to your goals.

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Recent comps

Recent comps

View data for sold and active comparable properties, all plotted on a map for easy reference.
Market index analysis

Market index analysis

Understand if your home is in a buyer's or seller's market by seeing supply and demand trends by zip code.
Value forecast

Value forecast

View predictions for how the price of your property may change over the next 3 years.

Common pricing questions

How accurate are auto-appraisals like Redfin's estimate or Zillow's Zestimate? Estimates

Each company estimates their margin of error. Redfin claims their estimates for active homes on the market are within 1.96% of being an accurate estimate, and off-market homes are within 6.23%. Zillow claims that its estimates have an error no greater than 7.9% on any home. While each source is likely to give you slightly different numbers, check and consider these resources as part of your descision making process.

Won't my neighborhood realtor have better data?

When is comes to pricing, the data doesn't lie. Your Home Value Report is best-in-class (it was designed for real estate agents) and uses the most recent sales data. Your Home Bay agent probably won't live your neighborhood, but they understand all of the current market conditions and use extensive data to price your home accurately and effectively.

Can I change my list price after my home is on the market? List price

Yes, you can change your list price at any time before your go under contract with a buyer. For example, it's common to lower your asking price if you're not getting as much activity or interest as you'd like. If you have any questions about home pricing strategy, just ask your Home Bay agent or check out our resource center for more articles.

A traditional agent told me they could sell my home for more... why aren't you? Property value report

Compared to the national average, Home Bay sellers sell for more. This is because of our effective pricing strategy, not from over-promising (and overpricing, which can lead to sellers getting less than current market value).

When an agent comes to your house, they know that you likely have an inflated sense of your home's value. While your goal is to get the most money possible for your house, their goal is to get you to like them, so you sign their listing agreement. Because of this, traditional agents tend to tell give their clients inflated numbers, only to have to lower the price later once they have signed a contract.

Read more about why you shouldn't have a Realtor price your home

What's the best pricing strategy?

We recommend to list at or below market value for the best results. A wealth of data shows that pricing above fair market value causes a lower final sales price (approximately 4% less). If you price low, you are likely to receive more activity, which should lead to multiple offers above asking price.

Read more about home pricing strategy

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