Thato Manyoga is a Realtor associate with Coldwell Banker, as well as the president of Biscayne Realty Company working in Miami.

Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we talked with Thato Manyoga, a Realtor associate with Coldwell Banker and president of Biscayne Realty Company, who shared his tips on how the pros price their listings accurately. 

3. Comparative Market Analysis – One service that I believe is extremely important in Miami real estate markets is helping my listing clients to objectively evaluate their homes for marketability. Some brokerages do a once over to get the information to put into the various information fields in the listing . However, I go much more into the detail of the features, characteristics and condition of a client’s home.

Every buyer who sees my clietns’ homes will be comparing it to the competition in their area and price range. How their home compares is critical to how soon you sell it and at what price. I’m going to work with clients in several areas of concern:

1) Interior features & characteristics
2) Exterior
3) Condition

2. Understanding the Market – A proper list price that reflects current and realistic market conditions is critical to getting your Miaim real estate property sold quickly. I don’t want clients to underprice, but it’s worse to overprice in any market. Buyers discount value by days on market. The longer a home stays on the market, the greater they’ll discount their offers. So, a realistic list price is how I make sure your property sells without languishing on the market.

How do I come up with a suggested list price that reflects your home’s competitive position? It’s a combination of services and experience, and I’m going to be very careful and detailed in my analysis and market evaluations to make sure that my clients don’t leave money on the table or sit around wondering why they aren’t getting offers.

My evaluation of how a property compares to the current competition is the first step. Then we may suggest some worthwhile corrections clients can make to improve that position. Once I know what a home will look like when listed, I will go into our thorough comparative market analysis process.

1. Market Updates – Do you know how many comparable properties to your client’s home came on the market this week? How about how many were sold or taken off the market? Markets are constantly changing, and it’s our job to monitor these changes and keep our listing clients informed. Changes in the competition don’t always require a price adjustment, but they may. Sometimes they just cause us to make changes in our marketing approach, putting emphasis on features that are no longer available in currently listed comps.

Whether I’m suggesting a price adjustment up or down or not, I’m always concerned with my seller clients’ peace of mind that their real estate property is properly priced and positioned in the market.

Thato Manyoga is a native of Johannesburg, South Africa. While attending college in Philadelphia he realized he had a strong passion for sales, working with people and satisfying clients needs. He transitioned into a real estate career in South Florida. joining the Coldwell Banker team, where he is able to build on past experiences in business and financial services to cater to clients from all backgrounds. He is an enthusiastic member of the Miami Beach community, enjoying sporting events, art, fashion, giving back to his community and showing clients the best Miami has to offer.