September 07, 2022

Here’s what we do to accurately price your home in today’s market.

The market has been crazy during the past two years. Sellers could get away with whatever price they set for their homes, and buyers would still try to outbid each other and pay insane amounts over the appraisals. However, now that the market has shifted, homes have to be priced right to sell. You can’t slap a for-sale sign in your front yard and expect 20 to 30 offers. As agents, part of our job is determining the most accurate price for your house when you list it, and we do this by analyzing real estate comparables.

Feel free to watch the full explanation or use these timestamps to browse specific topics at your leisure:

0:00 — Introduction

0:37 — Comps have to be analyzed to determine the right value for your home

1:03 — Most homes in Las Vegas are tract housing

1:52 — We typically get three to six comparables within 90 days

2:22 — Two-story and single-story homes have different pricing

2:41 — We check the price that the comps have sold for per square foot and their other features

3:23 — What to avoid when analyzing comps

4:15 — The condition of your comps should be similar to your home

5:49 — Upgrades don’t always add value to an appraisal

6:42 — Sellers should think like a buyer when pricing their homes

6:52 — The Las Vegas market is still strong