If you’re selling a condo in DTLA, you need your Realtor® to help you come up with the right price – but how does your agent arrive at the right price, and why is it so important?
How Does a Real Estate Agent Figure Out Where to Price a Condo for Sale?
Your agent will evaluate lots of factors when it comes to pricing your condo for sale. Among those factors, he’ll look at:
- The sales prices of condos similar to yours that have recently sold
- The sales prices of condos similar to yours that were withdrawn from the market without selling
- The sales prices of condos similar to yours that are currently on the market
Your condo is only worth what a buyer is willing to pay for it, which means that you need your agent to compare it to other homes so you can settle on the right price.
What if Your Condo is Too Expensive?
If you list your condo at too high a price point, you’ll cut out all the buyers who would ordinarily be able to afford it – and when people in higher price brackets come to see your condo, they’ll leave without making an offer, because they could get more for their money in a condo that’s priced properly.
What if Your Condo is Too Cheap?
If you don’t list your condo at a high enough price, you’ll be leaving money on the table. It might sell quickly, but the cash you don’t get for it could probably go to pretty good use.
Are You Buying a Loft or Condo in DTLA?
Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.
While you’re here, check out our:
- DTLA Arts District lofts for sale
- Historic Core lofts for sale
- DTLA Little Tokyo lofts for sale
- Bunker Hill lofts for sale
- City West lofts for sale
- South Park lofts for sale
- Fashion District lofts for sale
- Financial District lofts for sale