It seems that lately, even when you live in Short Hills NJ, life is constantly on the move. Technology is continuously evolving and when it comes to technology in real estate, there have definitely been improvements! It is now easier than ever to search for a Short Hills NJ home. It is also easier to know how to price a home (or think you do, anyway).
In days gone by, when a person decided to sell their home, they made a critical call – to their local real estate agent – to discuss something called “comps.” “Comps” stand for “comparables” and are still valued today. Knowing what a home down the street sold for or how long the home was on the market prior to the sale were essential elements to setting up a marketing and listing plan for every Short Hills NJ home for sale.
In reality, “comps” are a comparative (and competitive) market analysis which relies in part on the expertise of your agent in tracking and compiling data. You’ll find Short Hills NJ market reports on my website (and for all my towns) that can help you to piece together this information. However, if you call me, I can give you detailed information about your home and those in surrounding boroughs, too. Personally I think that would be quicker and easier for you.
Anyway, it seems that with technology, that personal touch that I prefer to offer is being lost. Clients are turning to “zestimates” or “eppraisals” to make up for the knowledge that used to be generated by local, expert real estate professionals. While that might be a quick answer, and great for when you wake up in the middle of the night, I hope you realize that those numbers are not 100% accurate and can lead to you listing your home in Short Hills NJ for much less of a sales price. Working with a local, seasoned, out-for-your-best interests real estate agent is what you need to sell your home and to discover true, up-to-date “comps.” Knowledge of the current local market market is essential when considering sale price, size and square footage, age and value of a property and it doesn’t always boil down to a numeric formula created by averages.
As a Short Hills NJ real estate agent, there are several things I take care to notice when establishing true “comps” for you. I consider what other properties have sold in the last month. I consider what other properties have sold in the last three months. I evaluate what is occurring in the pending sales market and if open houses are being well attended. I determine whether square footage amounts, home styles and age, and locations are comparable. I ask myself how will the buyer view the home and how can we entice them. I also personally evaluate comparable homes to see why they warranted the sales price to determine if we can do more.
Yes, it takes longer and yes, it requires some footwork on my part. But, I guarantee you will see a difference in sales price by using the correct “comps” and seek me out when you want to sell your next Short Hills NJ home.