Pricing, shown
How I price a home
Every number I give you comes with the sales behind it. Here is how I get there, in five steps.
- 1
Start with the home itself
Size, layout, condition, updates, lot, view, parking, and for a condo or townhouse the building: age, strata fees, the depreciation report and any levies coming. An online request gets you a range from the comparable sales first. Before I recommend a list price, I walk through the home, because a price built from a desk misses the things buyers notice at the door.
- 2
Find the sales that actually compare
The same street or building first, then the same pocket of the neighbourhood, the same home type, and the last few months where the market allows. Usually three to six sales carry the weight. I show you each one, what it sold for and when, so you can see why it counts.
- 3
Adjust for the differences
No two homes match. A renovated kitchen, a better view, a suite, a busier road or a smaller lot all move the number. I tell you which adjustments I made and by roughly how much, so the range isn't a black box.
- 4
Look at what buyers will compare you to
Your competition is what's for sale the week you list, not last spring's sales. I pull the active listings a buyer in your price range is also seeing, how long they've been on the market, and which ones have dropped their price.
- 5
Turn the range into a plan, and a net number
You get a price range, a recommended list price and the reasoning for it, plus what you'd walk away with after commission, GST, legal fees and any mortgage penalty. If I think a higher price will sit, I'll say so and show you the sales that tell me that.
- What it costs to sell, in dollars, is on my fees page. This month's benchmark prices are on the North Vancouver and West Vancouver home value pages.
Alex Mackenzie, REALTOR®
Royal LePage Sussex
Prepares every valuation personally
Frequently Asked Questions
Why not just use an online estimate?
Automated estimates can't see condition, view, layout or what's changed inside the home, and on the North Shore those swing values by hundreds of thousands. They're a starting point, not a price.
Is BC Assessment a good guide to value?
It's a mass appraisal as of July 1 of the previous year, so it lags the market and can't see your home's condition. I use it as a check, never as the price.
What if I want to list higher than you recommend?
It's your home and your decision. I'll show you what happens to homes listed above the evidence here, how long they sit and where they end up, and we'll agree a plan for reviewing the price if showings are thin.
Does a valuation commit me to anything?
No listing agreement is required for a valuation.