Hull & Company

Hull & Company
111 N 2nd
Rogers, AR 72756
479.273.5454 - phone
479.273.5400 - fax

Choose the Right Price

A "listing" is a contract that authorizes a licensed real estate agent to represent a seller in the sale of their property. The agreement outlines general terms, conditions, and commitments between the seller and the agent, including:

Price and terms

Duration of listing

Property description, including items that will transfer with the sale

Commission or compensation to the real estate agent

It is always wise to consult an attorney before signing any legal contract.

Price and Terms

The listing states the price at which the owners are willing to sell, as well as any other terms that are pertinent to the seller's situation. In selecting a price, the seller should review comparisons provided by the agent that review similar properties on the market, similar properties sold, and similar properties that were listed but did not sell. This "Comparative Market Analysis" presents comparable real estate in a format that assists the seller in identifying a price range as well as an actual target price. An experienced commercial professional will provide a Broker Opinion of Value, using the same three appraisal techniques used by licensed appraisers to demonstrate a probable market value for your land, building or lease space. The cost approach deals with replacement costs for the land and any improvements in today's dollars. The income approach is applicable for income producing properties with active leases in place. The comparable's approach uses similar properties that have sold in recent times and their compared value to the subject property. Your broker cannot perform an actual real estate appraisal unless he or she is a licensed real estate appraiser, but they can provide competent guidance regarding pricing your property to sell.

The market in Northwest Arkansas is HOT! No one could have predicted the surge in land and building values that we have experienced these last few years. Is it a bubble? Hard to say. Don't put you property on the market unless you want to sell, as prices are amazing, and even seasoned experts can be fooled when capital source appear from outside the state and region, and in many cases outside the country. Just don't get caught being greedy when you hold leveraged properties expecting a quick flip. No matter where you are in the market, real estate is no a liquid asset, and buyers can be fickle.