Setting the right price from the start is among the most important steps toward successfully selling your home. This requires taking a close look at what other houses are selling for to judge the relative value of your home. No matter how priceless your home is to you, the market sets a value by the price a buyer is willing to pay.
One of the key ways to compare your house to others on the market is to look at a Broker Price Opinion (BPO). The BPO is used to help evaluate how your home will fare against the competition. It takes a look at both homes that are currently listed and those recently sold. The purpose of the BPO is to find the highest price that will still make your home competitive on the open market.
The BPO we compile gives you information (referred to as “comps”) about houses similar to yours, in size, amenities, and location, that are either on the market, have sold, or were listed but expired within a recent time period. A good BPO can tell you what homes like yours are actually selling for, how long it’s taking for them to sell, and what their sale prices were in relation to their list prices.
If you are interested in using one of our REALTORS to sell your home, and need more information on obtaining a BPO give us a call on (406) 363-4700.