(1) A home’s value is certainly a primary factor when it comes to creating the initial list price, but there are other factors as well — including the listing agent’s gut and intuition. Sales reps need to take into account whether it’s a buyer’s or seller’s market, what other listings have sold for nearby recently, and how the home for sale’s specs compare to similar properties in the community. At the end of the day, it comes down to the agent’s subjective recommendation to their clients and their client’s feedback. If your client wants to sell their home quickly as opposed to the best possible price, these tips and tricks from Zillowcan help.
(2) A list price is the price of a home for sale set by the a seller and her listing agent. The list price can be reduced multiple times throughout the life of the listing. It’s important to watch how the list price changes for homes you’re interested in, as it can indicate how willing a seller may be to drop the final sale price.
The ratio of the final sale-to-list price indicates the discount that a buyer gets off of the last listing price when a home is sold. This number helps you set an offer price for a comparable home on the market.