Information Research
Property-Specific Information

How long has the property been on the market?
The length of time a property has been on the market may indicate the seller's willingness to negotiate.
Have there been any price reductions during the listing period?

The amount of any price reduction, as it relates to the overall purchase price, may indicate the seller's desire to attract an offer.

Have there been any other offers on the property?
The answer is helpful to your Realtor©. It lets your Realtor© know what offers may have been turned down and the reasons for it.

What is the motivation of the seller?
Motivation is the key element in any negotiation. As an example, if the seller has already purchased a new property, your ability to close quickly maybe a very attractive element of the negotiation.

What personal items are included in the sale?
Anything the seller is willing to leave behind that you won't need to buy when you move in has real value. It is valuable to know this when considering those items in your offer.

Neighborhood-Specific Information

What is the price range of SOLD properties in the area?
This information is important since it will indicate the top and bottom of that specific market.

What is the average time on market for properties in the area?
Short market times may indicate a seller's market. If this is the case, you may face competition from other buyers.

What is the list-to-sale price ratio in this area?
This information will indicate seller's past willingness to negotiate and by how much.

What is the average sales price per square foot on recent SOLD properties?
This approach to establish value works best where there are similar homes, lot sizes and improvements.

What other known factors about the property or neighborhood could affect value?
Noise, crime, schools, transportation, etc., are all factors to be considered when assessing value.