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Sorry you feel otherwise but that is true, especially when homeowners try to overprice their home. A realtor can offer a price opinion based on comparables at no charge to the seller.
It would be the same with getting a home inspection. The Realtor doesn't pay that and is not usually qualified to do so.
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A home inspection is completely different. Most Realtors are not qualified nor trained to inspect homes because that requires knowledge of engineering, safety issues, etc. They ARE trained to offer comparative market analyses concerning VALUE rather than structure, safety, etc. Buyers and sellers can also get a lot of comp. info about value on the internet. It's a question of whether they will be careful, objective, etc., to use it.
Another difference is that most buyers do not pay for those inspections until after a contingent offer is accepted and most sellers do not have inspections done on their own homes when putting them on the market (why obligate yourself to change or disclose a condition that the inspector you hire has an issue with, but which other inspectors may not?).
If sellers thought hiring an appraiser were necessary or valuable, a high proportion of them would do it.
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(set 15 days ago)
Location: Ocala, FL
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I never suggested that a seller would have a home inspection done, or that a buyer would until their contract was accepted. Read the first sentence of my quote again, I qualified be stating that it should be done when the buyer asks too much when listing their home. I did not imply that all sellers have to get their home appraised prior to listing it.
I'm still convinced the entire pricing thing is voodoo.
I just had my house appraised for a refinance, and it came out a bit low (I know, don't we all think that?), but I was fine with that... hoping that factors in when assessment time comes along. I still had well more than the 20% necessary to avoid PMI on the deal, so it was moot. I was pretty amazed at what had been selected as the "comps", when I received my copy of the appraisal. There was one that came out very close to mine in price that had 20 acres more than my property, a 3-car versus 2-car garage, much more square footage, and no waterfront... I still am trying to figure out what that property had in common with mine. One other I thought actually WAS comparable - similar square footage, garage, lot size, even construction date - just no waterfront.. and the price was in the ballpark. I was browsing through properties in the town to see how prices were faring, and the one that was similar to mine had actually RAISED their sales price by almost $40K in the past week. Now THAT is definitely odd... I'm thinking that one will not move off the market very quickly.
Was someone holding a gun to your head when you signed the listing?
Nope. We rejected the agency with the lowball "comps" and were right to do so. As I mentioned earlier, the serious offer we received was higher than the lowball agent's suggested listing price.
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I'm still convinced the entire pricing thing is voodoo.
