I know we have been sharing the things to look for when selecting a broker to list and sell your home with one of the most important things they should have is a great knowledge of the market. Let’s review some of the things you should look for in your broker, then look at some of the statistics of the Portland market. Did your broker do comparable pricing on homes in your neighborhood and surrounding areas? Make sure your broker is clear in what you want to do, such as “as is”, or with the fixes that make sense to get a better price? When you price your property, did you fully analyze the comparables on similar features? Trying to get the price of a 5 bedroom with 3 baths when you have a 4 bedroom with 2 baths could cause unnecessary negotiating problems down the road, as well as lengthen the time it takes to move the interested parties to a close. Conversely, thinking you have to sell a 5 bedroom house for the price of a 4 bedroom could leave a lot of money on the table. Setting the right price has all to do with the market trends and the condition of the property.
Portland property owners who have been in their homes for a number of years, may not be fully aware of how the market is doing and how setting the selling price has all to do with the market trends. Portland Fortune Builders reported that since 2012, Portland appreciation has been better than money in the bank, with the last report showing an 8.6% annual growth rate in valuations. The Portland – Vancouver – Hillsboro medium home value sits today at just over $450,000. Add to that only 6.78% of homes are vacant, and less than 1% goes to foreclosure, it has become a seller’s market. Don’t let that go to your head and outprice yourself, just think of what you purchased that property for and what it is worth today, then select the broker that will take you through the paces and help you get the most for your property and get you set into your next place.
At The Fontana Team, we have helped our listing homeowners every step of the way, including comps, descriptions, pricing, networking with agents in the market, setting fees that are lower than usual and customary while providing all the necessary experience and contacts to move property in our market under the best terms for our clients. I’m Emilio Fontana, principal broker at The Fontana Team at Premiere Property Group, and I want to be your broker.