We all know the first few weeks of marketing your home are usually the most crucial. This is an area where seasoned buyers, who have been looking steadily (many have already sold their home and are ready to buy), have learned the market well. Our advice is to price your home reasonably and be flexible. Be aware, market conditions change rapidly and continually. Emphasis is on pricing to sell. In summary do not overprice so that your sellers do not lose potential buyers along the way.
A seasoned, state certified residential real estate appraiser will discretely provide you and your client with an independent and completely unbiased estimate of the fair market value of any home or other real property. Your appraiser will guide you to a reasonable asking price and serious buyers will respond. It is imperative that the home is not overpriced when it first comes on the market.
There are several reasons for this. The first is obvious being if the price is too high, it may be outside the typical buyer's range in their prospective market and the house will languish on the market unsold until the price is reduced or the market rises to the level of that asking price. Another reason is less obvious. If the home is sold well above its supportable market value to an uninformed buyer, it may not appraise for the selling price and your potential buyer will have trouble obtaining a mortgage.
Many times when this occurs, the parties are unwilling to agree on a reasonable solution, the transaction is canceled and everyone walks away having wasted several months. Wouldn't it have been easier if the transaction were put together initially based on solid market evidence of the real value of the property? Price homes realistically, armed with solid evidence of true market value, and you can be assured of the highest possible price in the shortest period of time.
In any given real estate market there are always some properties that are just simply overpriced. The reasons these properties end up in the inventory of a real estate broker are varied. Sometimes an owner insists on listing a property at a price much higher than it can realistically sell for in spite of a broker or agent's recommendations. It's tough competing with many other brokers and agents to list a property for sale.
There is often a tendency among sellers to list their property with the agent who tells them their house is worth the most money. Therefore, because of this factor, many agents will knowingly inflate the 'value' given to the sellers strictly to obtain the listing. Do not waste you or your client's time, become the realtor that people recommend as knowledgeable and fair. As a result, obtain more listings.
There is only one truly unbiased person, qualified to advise you with regard to the real fair market value, a seasoned, state certified real estate appraiser. An independent appraiser will discretely provide you with a completely unbiased estimate of the fair market value of your home or other real property.
If you have any questions, feel free to contact us anytime via email at Appraiser@LasHomeValue.com and one of our excellent customer service representatives will respond to you within 24 hours.