Selling--interviewed 2 realtors w/ big discrepancy in SLP

[TabbyCats]

Originally Posted by chet everett

.....the task you have to weigh is NOT starting at $327K, (which is a no-mans land IMO...) really whether you want to start at like $349K or $324K. ......
I would want some HARD DETAILS on those sales that happened 10 days after listing -- if those houses are similar to ours that is the price range I would want to be in!

Why is $327 considered no-man's land?

House across the street and over one sold in 10 days. Listed at $299k, sold at $295k. MUCH smaller house (poor floorplan), and lot, not lake front (the private lake lots are the premium ones in the neighborhood). House slightly across the lake from us....much smaller home, smaller lot (but small portion of lake) listed at $315 and sold at $310 within a month or not quite two. So, no, they're not similar, BUT, I figure we'd not be less than the one that sold at $310 for sure.

Ah, a crystal ball is what I need :-)

Thanks!

[chet everett]

There are definite patterns that are 'searched' via MLS and online sites. Some MLS systems will report how many searches are performed in a price category and THAT is what I use to determine what is a "no mans land".

I suspect, based on the quick sale of the $315 house that your agent very much wants you to attract the same kind of buyer. You might want to sit down with her and run the searches to see EXACTLY what your competition would be before you enter your listing. If it turns out that you compare favorably with houses under $350 on the day you enter that might be a good range.

If your home's features and appearance blow away the competition at $324 you might still want to list there, if you and your agent want to attract the most buyers.

If your region's MLS can spit out stats on who was searching in what range AND there are folks using $330 as a 'ceiling' then by all mean go for it!

Good Luck!

[TabbyCats]

Thank you, Chet, for the explanation....makes sense to me now. I shall research further.

[Lake Conroe resident]

Originally Posted by chet everett

Bottom line:

Originally Posted by chet everett

One real estate agent wants to capture anything UNDER $350K, the other is looking to capture anything UNDER $325K --- the task you have to weigh is NOT starting at $327K, (which is a no-mans land IMO...) really whether you want to start at like $349K or $324K. $25K sound like a lot of money, and it is, but if only a difference of about 7% over $324, the real tension will come if you get a 90% offer (which is NOT uncommon at all in places right now...) and facing a $291K sale vs $314K, which might make the lower starting price REALLY sting...

I would want some HARD DETAILS on those sales that happened 10 days after listing -- if those houses are similar to ours that is the price range I would want to be in!

Bottom line; one realtor is more than likely giving a realistic/honest opinion of the value of the property, and the other one is just trying to win a listing.