Tips on How to Price Your Home on iList

You can quickly and easily determine a good sales price for your home on iList using the same MLS Listing information that professionals use in creating a sales recommendation.  Unlike other sites such as Zillow.com, or Trulia.com, we actually show you the data behind our numbers.  Using our simple three step process we help you determine your sales price, and you immediately see an estimate of what you will receive at closing after the typical closing costs.

Step 1 – Choose Comparable Homes

No one knows your immediate neighborhood better than you!  When you register and enter your address on iList, we will show you a list of homes that are for sale and under contract in your area as well as the homes that have recently sold.

First, review the information that was pulled up specific to your home and verify the square footage, number of bedrooms, and number of bathrooms is correct.  If these are incorrect due to a room addition, or garage conversion, click on the red text “click here to show or hide additional search options” directly under the address bar.

This will allow you to correct the search options, and the search will then pull up homes that compare accurately to your home.
At this point, you will see a list of homes that we have automatically selected that are comparable to your home, along with a map that shows the location of the homes.  Now you can de-select homes that are NOT good comparables to your home by clicking on the checkbox next to the price of the comparable home.

 

There are a couple of things to consider when removing homes from the list.

  1. Map Review: Review the map to see the selected homes.  Are they in a different neighborhood that is either lower priced or higher priced in general than your home?  If so, you can de-select the homes based on location.
  2. Picture Review: Click on the photos of the homes shown in the list.  Are the homes comparable in condition and features to your home?  If they are clearly not comparable at all based on the picture view, the homes can be de-selected.  If they are close in features, then you will be able to keep the comparable, and make adjustments in the next step.

Step 2 – Adjust Your Features

In this step, you will be able to fine tune the price of your home by making adjustments to the features of your home in comparison with the homes in the list above.  After reviewing the photos of the comparable homes, you will have a good idea of how to adjust the features of your home.

To adjust the features of your home, just slide the circle on the bar of each feature listed to reflect if you home compares favorably, or un-favorably to the homes in the list.  Slide to the right if you have a favorable comparison, and to the left if your home compares unfavorably.  In the example below, the featured home has a great location, is similar to other homes in exterior appeal, interior appeal, and landscaping, has no pool, and has great outdoor amenities compared to the homes in the list.

Feel free to make multiple adjustments to the features.  Want to start over?  Just hit the reset button on the bottom and the values will all go back to zero.  The suggested value of your home will change automatically as you adjust your features.

Now it is time to determine the listing price for your home.

Step 3 – See how much you can save!

Here, you will set the final price you would like to receive for your home.  You can do this either by sliding the circle on the pricing bar, or just type in the price you would like to receive.  You can enter different values and see what your estimated net proceeds will be when your sale completes.
By entering your loan balance, we will also deduct this from your proceeds and show you a real time estimate of what will go in your pocket if your home sells for this price.

 

Step 4 – Click here to start your listing

Once you are comfortable with the price you would like for your home, just click this button to list your home on MLS and other websites.  An iLIst agent will review your price and provide you feedback if there are concerns with your listing price, either low or high.

That’s it – and if you have any questions at all about pricing your home, an iList agent is available by phone or chat to help you price your home.

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