Do you really want to sell your home???? (recommendation, appraisal, agents)

[Norm Barnes]

Boy that Realtor really has some nerve. Of course I want to sell my property--- or do I? You might doubt the validity of such a question but it may be a shoe that you don’t realize you are wearing. It seems as though many of us set ambitious objectives when it comes to price and value. In Real Estate Sales anyone can establish a price but the value is determined by that dreaded trained professional called the “Appraiser”. He’s like any one of us except he holds the key to a Mortgage Company’s vault. So I go back to my original question “Do you really want to sell your home?” There is so much information to digest: Comparables, best time to sell, Marketing Strategy, Home preparation and realistic selling price. I remember as a child my parents saying: “You can have a snack before you go to bed.” I heard the snack part. It might be just like that when it comes to listening and observing your Realtor’s presentation. You will hear everything that appeals to you and sort of have a mental block when it comes to some other important things. Let me give you an example: “We could list your property for the $370,000 you are asking but it probably will not sell for that amount”. So far you have heard your home is worth $370K – but is it – Its obviously not or the Realtor would never have closed with “but it probably……….”. Marketing strategy is important and a reasonable price is so very important. When you by a perishable item you pay particular interest to its shelf life and how old it is. Believe it or not Buyers’ sort of do the same thing. If your property has been on the market for a lengthy period of time it creates a question as to value and pricing. There we go back again to those two words: “Value and Price”. So here is my recommendation from an individual who has completed mortgages since 1969 and has been in Real estate since 1984: “Price your Home Sensibly” and before determining a price ask yourself a simple question: “Do you really want to sell your home?”

[middle-aged mom]

Do you want to get sold or sell the competition?

[Broker Dave]

Spoken well 'Mom'

Hope this helps,

[Tenzo]

Originally Posted by Norm Barnes

In Real Estate Sales anyone can establish a price but the value is determined by that dreaded trained professional called the “Appraiser”. He’s like any one of us except he holds the key to a Mortgage Company’s vault.”

Horse Hockey

I'm not a real estate agent. But in the past 10 years I have bought and sold 5 homes.

In EVERY case the appraisal just happened to come in at EXACTLY what the contract price was.

[MikePRU]

Originally Posted by Tenzo

Horse Hockey

I'm not a real estate agent. But in the past 10 years I have bought and sold 5 homes.

In EVERY case the appraisal just happened to come in at EXACTLY what the contract price was.

If the value the appraiser comes up wtih is close enough to the purchase price, I have no doubt in my mind an appraiser will fudge the number a bit to make everything match up. An appraisal (much like when a Realtor does a comparative market analysis a/k/a CMA) is not an exact science after all. This being said, I've seen plenty of appraisals that did not match up with the purchase price and either killed the deal or put it on serious life support until the issue was resolved. So the statement is in fact not horse hockey.

[Norm Barnes]

Horse Hockey!!! Ha!Ha! Sell your home today!!! Generally your home will not be appraised for more than your offered price -- why?? Because your offer established what a willing buyer is willing to pay a willing seller which happens to be the essence of valuation. Horse feathers that was funny. Would you like to compare war stories of how many house don't appraise for the agreed sale price -- how about if everyone out there who has not got the anticipated value email you!!! You know the addage about the "Can of Worms".

[amyla]

Originally Posted by middle-aged mom

Do you want to get sold or sell the competition?

i like that and will think of that when pricing our home with the realtor

[sldream]

Originally Posted by middle-aged mom

Do you want to get sold or sell the competition?

Sellers are often encouraged to reduce their price to attract more attention, while similar homes (some better , some worse) that are already at that price haven't sold either; point being no one knows what the magical price will be that attracts John Doe Buyer.

Shouldn't there be more selling the features of that particular home and less blanket price reduction as a cure-all?

On another note, I don't get why agents insert ego into real estate transactions when it involves the ability or inability to close the deal when a buyer is right on the cusp of making a decision. Frequently it's been said that agents typically don't tactfully and proactively try to find out under what terms a buyer would agree to buy a home because it comes off as desperate. Huh? Not to mention buyers are typically warned not to show outward interest because it diminishes their leverage. Is this trying to sell/buy a home or a messy divorce?

[Norm Barnes]

Realty sales is a learning process - no two buyers are alike and many don't always tell you the information you need to know. I've known buyers in their hunt to find a home call other Realtors for information on various houses to assist their Realtor. This is some of the educating that that Realtor is missing. He should be educated as to exactly what you the buyer is looking for. After all why sign on with a Realtor if you really feel more qualified to do it yourself (At this point some out there are saying -- "Precisely") Your point about don't show excitement -- does this mean you are there at showings and open houses? I have always encouraged the seller to be gone. This Sunday I had an open house and the Seller chose to be there with his dog -- a buyer whom I knew from another open house stopped by and she is deathly afraid of dogs and she was so anxious to leave that it was a "Deal never get started". It was a bad decision to allow this and I wouldn't do an open house if the Seller's condition was he be there. I think most Realtors are direct in their approach and if they see a spark of interest do precisely what you suggest and ask what terms they might buy the house under consideration. Its just sort of instinctive when you sniff that spark of interest. Great response and thanks I did pick up some smarts from this question as perception is sometimes Realty to a Seller.

[Tenzo]

Originally Posted by MikePRU

If the value the appraiser comes up wtih is close enough to the purchase price, I have no doubt in my mind an appraiser will fudge the number a bit to make everything match up. An appraisal (much like when a Realtor does a comparative market analysis a/k/a CMA) is not an exact science after all. This being said, I've seen plenty of appraisals that did not match up with the purchase price and either killed the deal or put it on serious life support until the issue was resolved. So the statement is in fact not horse hockey.

If I roll six dice eight times in a row and they come up the same number each time........

Sold a house for $749,450.
One guess what the apprasial was.

If he "will fudge the number a bit" that's lying in my book. He's working with a bank and most judges would take a slim view of accountants who "will fudge the number a bit"

What was real funny is how he justified it.
House sold for $819,000 but mine has 10% less sq footage and the difference is worth $69,550.
One sold for $749,000 but mine had an additional fire place and his value on a fireplace happened to be $450.

If that isn't backing into a pre set number, I'm confused.