How Real Estate Agents Price Your Home
Your Home Price
Let’s talk about pricing your home when it comes time to sell it. How do realtors determine a price? They just guess on a number that sounds right. NO, ABSOLUTELY NOT, that is not what they do, or at least that is not what we do at the Weinland Team. There are so many factors that go into pricing your home when it comes time to sell, and you can guarantee that we will do our in-depth research to provide an expert opinion on it. Unfortunately, sometimes this can be a controversial point between the sellers and a realtor. Keep in mind, we want to net you as much money as possible! We want to work in your best interests every single time. If we could, we would always get you more and more and more money, but there is a thing called the market, and sometimes, a home just isn’t worth what the seller thinks that it is worth. That is where education and facts come into play.Â
Appraisals and Realistic Expectations
An appraisal is an essential part of the real estate process. Sometimes people pay for an appraisal prior to listing there home which is fine, but keep in mind you are paying for that opinion. When a real estate agent prices a home, we have to make an education opinion on what it realistically could sell for. What is it worth? It is worth what a ready, willing, and able buyer makes an offer for. Sometimes listings sell for over ask, sometimes they sell for under ask. The insanity of the real estate market the last three years has created unrealistic expectations for many sellers. It is not typical to receive 10 offers in a weekend.Â
Research and Planning
So how do we price a house? Let’s break it down. Lots and lots of hours spent in the MLS (Multiple Listing Service). We look at comparable homes that have recently sold, comparable homes that are currently listed, and days on market. An extended amount of time on the market with little to no showings would indicate a pricing problem or significant home problem. What is the seller motivation? How aggressive do you want to price the home? What is your timeline look like.
Listing It Right
We also pull data from a number of other websites to support our opinion of value. What updates have been done? What is the condition of the home? Where is the location of the home? Lot size? So many factors go into pricing a home. Yes, we want to work together on the pricing of the home, but it is our job to be realistic for what we can successfully market and sell the home for. We spend a significant amount of money preparing to list your home. We do not cut corners on expenses when it comes to the marketing, promotion, and professionalism displayed when having your listing going live.Â
Hiring a Professional
While the process is an art, there is a lot of science that goes into it. Remember, we are working on YOUR SIDE! We want to make you the most money possible, but it is important that we are realistic as well. A priority for us is the open and honest communication of how we can to our opinion of value. Lets work together to make selling your home as stress-free as possible. If you are curious what your home is worth, always feel free to reach out to anyone of us so we can create a free home value report – you may be surprised just home much your home is worth.Â
Written by Brandon Barnes with the Weinland Team at RE/MAX Alliance
Phone: (303) 552-6780
Email: Brandon@TheWeinlandTeam.com
Written by fortcollinsexperience
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