How do you know if a property listed on the MLS® is fairly priced?
The Multiple Listing Service® indicates a specific price for each property. But how do you know if the list price is fair? One that’s on par with similar property in the area?
Buyers who choose a licensed REALTOR® to represent their interests have easy access to unbiased comparable information. This info - known within the real estate industry as ‘comparables’ – specifies lesser known details relating to the specific property and properties in the surrounding area, often providing additional insight not detailed in the MLS listing.
Your REALTOR can also determine the buy-sell history of any property, the availability of similar property in the area, and whether or not there are competing bids – information which is crucial in assessing the fairness of the listed asking price, and making an educated purchase offer.