I've taken your advice and chosen my REALTOR. I really like her, but she thinks my house is only worth $300,000, but I think it's worth $350,000. How can I convince her to list it at $350?
It's not easy to balance how much you want for the house and how much you can actually get for the house. The chances are that your REALTOR(R) is probably closer to the right price than you are. After all she is a Real Estate Professional and her job is to KNOW the local market. Chances are, she keeps tabs on all the new homes in the neighborhood that come on the market and she probably previews them as well.
Let me pose a question to you. What if you list the house at $350,000 and you get no showings, will you be upset with your REALTOR(R)? Probably, you'll think it's her fault that nobody is coming to see the home. After all her job is to market your home to the buyers. Do you know what one of the top marketing tools is? PRICE. If a property is overpriced the buyers won't waste their time looking at.
Suppose that someone sees your home, falls in love with it and make an offer for $340,000. You accept the offer. Now the buyers mortgage company will have an appraiser come in and do an appraisal on the house. The appraiser places the value at $302,000, within 1% of what your REALTOR said it was worth. Now the buyer's bank will not give them a mortgage. They back out of the deal. Now what?
The best solution and it's a relatively inexpensive one, is to have a PRE-appraisal done before listing the home. This way you'll know EXACTLY what the home is currently worth. If you've had an appraisal done that price is only good for about 6 months, so make sure you get a pre-appraisal just before you list and price your home at or within 1 or 2 percent of the appraised value and chances are you will get your home sold very quickly.
Best of luck to you Gus!!!
Please note that all information is reliable but not guaranteed. Please consult with your Real Estate professional before making any Real Estate decisions.
~ Wayne & Jean
Union County, NJ - a great place to live and work!
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