World Star Realty Chicago, LLC
Pricing Strategy

What determines the price for your home - Location, condition and availability of others homes in your area influence the fair market value of your home.

How does World Star Realty Chicago determine the price for my home? Your World Star Realty Chicago agent will visit your property as part of the preparation of a comprehensive comparable market analysis. They will consider the current market trends and the price similar homes in your neighborhood have recently sold for + similar homes currently offered for sale. Upon the visit to your property they will personally measure each room and evaluate the condition of the property. In addition, your agent will discuss with you your goals and priorities and together you and your agent will arrive at a listing price. This comprehensive market review & interview with provide a more complete picture than a standard comparable market analysis.

How does World Star Realty Chicago price in unique features or upgrades I have done? Avoid making the mistake that setting the price higher than market will eventually bring buyers who will pay for those unique features or recent upgrades.  Qualified prospects will eliminate your property from consideration before even seeing it if it is priced higher than comparable homes in your neighborhood. Potential buyers sometimes pay more for special features, but by pricing with that in mind, the number of qualified buyers narrows significantly.  Homes that are priced too high from the start will stay on the market much longer than average and when they do eventually sell, they will sell for less than they would have were they priced correctly in the first place.  It is usually wise, if a market is bringing you no new offers and if the home has been staged and marketed properly, to lower the asking price if that is possible. View our marketing plan.

Can I ask for a higher listing price and than reduce the price later on if it is not selling? Showing activity will be high the first few weeks a home is placed on the market; by asking for a higher price you may deter qualified buyers. Setting the "right price" from the start is usually best. Ultimately, the listing price is your decision, your World Star Realty Chicago agent will only suggest the "right price". There’s nothing like a reduction in the price to open up the market to more buyers!