Choosing an Agent
The way many real estate agents operate when advising a seller on home pricing is to present a seller with a range of prices, The spread between the two prices will be relatively small. It’s the home seller who selects the listed sales price, and it’s the real estate agent who provides the information to help educate the seller. Although, you can see why many sellers will often gravitate to the high sales price. That’s just human nature.
There is a range and not a defined exact sales price because an estimate of market value can vary from individual to individual.
Take 5 appraisers and ask each to appraise a home. Odds are each appraisal will be different. An appraisal does not mean the home’s value is predetermined, but between all 5 of the appraisals, there will be a range of value, fairly close to each other. There probably won’t be any wild swings in value.
Yet sellers are sometimes tempted to jack up the price of a home to a number that might appear astronomical to a neighborhood real estate agent. Sellers might not know how a real estate agent determines value, and they might not give a hoot about the comparable sales. How sellers derive at a value is varied. They might remember a home that was once for sale a few months ago, which could very well be an expired listing today, and decide that their home worth is X amount more. For no logical reason.
That X amount is probably based on a nice round number that might have no bearing on market value. (Heaven help them if they are relying on a public real estate website for values.)
The value of your home is what the market will pay for it.
Nothing more, nothing less.
Real estate agents and Realtors will promise a lot of blue sky in order to get your listing.
And then beat you up to drop the price when your home does not sell. Generally they blame the market.
It’s not the markets fault, they lied to you.
BE REALISTIC !
Find the agent who will deal honestly and fairly with your needs..
You can and should interview agents just like you would interview job applicants.
And chemistry matters!
Reach out to the Radio Realtor any time for info regarding buying or selling homes.
Living the dream,
The Radio Realtor.