How To Arrive At The Right Price For A Luxury Listing
Another question I get asked repeatedly deals with pricing: how to arrive at the right price for a luxury listing and how to convey that price to a skeptical seller. You have heard me talk about benchmarks and how important it is to establish them for your market.
One of my favorite benchmarks is the sales price of a given property compared to its tax assessment.
Today, I will show you a spreadsheet that organizes recent sales, their assessments and helps you arrive at another pricing metric for your seller.
Hope you enjoy the video.
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7 Comments
Larry Lawfer
02/11/2014I get this one and it makes perfect sense. In a town where the assessed values are lower than the sale price, does it make sense to get the home re-assessed either before or after the sale?
Mark A. Sisco
02/11/2014Hello jack,
Excellent spread sheet tool. Please send me the spread sheet via email.
Regards,
mark
Sharon Alters
02/11/2014Hi Jack, please send these spreadsheets. I am going to start paying attention to assessed values vs. sales prices. In our area, they will be lower than the sales price, but still a useful tool. Thanks! Sharon
Billy Cassie
02/13/2014Hi Jack please send me the spreadsheets they would be a great tool to have.
Thank You
Billy
Geoff Grist
02/13/2014Hi Jack, I have never gone this approach before but can see merit so would be happy to receive the spreadsheets, many thanks Geoff
Mellie Cline
02/25/2014Hi, Jack, Usually the assessments in Dallas are MUCH lower than the sales prices, but what makes it a difficult number to use reliably is that we have a period of time after proposed values are posted to protest and have your value reduced. So tax values:market values range wildly based on whether the owner is proactive at keeping their value as low as possible.
Even so I would appreciate having all of your spreadsheets and any other tool that you use in your business. Thanks so much, Mellie
Donna Lavin
03/05/2014Great video. Can you please send me the square footage chart. Thanks for all your presentations.