How much is my house worth

By
Real Estate Broker Owner with RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com

How much is my house worth?

Every seller asks that question and every agent gives an answer and usually the agent that gives the highest price gets the listing and doesn't get the house sold. 

So sellers should ask agents to give them all the information they need to arrive at a compelling price for their home. When trying to determine a price that will attract the largest buyer pool for their property it is critical that sellers pay careful attention  to properties  similar to theirs that have recently  sold!

                              Be wary of the agent that gives you an inflated price to entice you into listing your home with them. Your house is worth what a buyer will pay, and buyers pay what other buyers seem to be paying for similar homes.  An agent can tell you what has recently sold and they can give you their opinion of the value of your home, but that is just their opinion. Always rely on the facts that are presented to you and when possible visit the agent in their office and have them go online to show you those facts.

                              Today buyers have more pricing information available to them than they ever had before.   They can go on several sites and get an on-line evaluation of any home.  This information is based on recent sales of similar properties and not on what an agent thinks.

                              The best way to determine what your home is worth is to review the recently sold homes that are most similar to yours and then pretend you were buying the house and ask yourself what you would pay for your home based on that information.

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Tags:
dont let an agent buy your listing
determine the value of your property
what is your home worth

Comments 9 New Comment

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Rainmaker
638,472
Winston Heverly
GRI, ABR, SFR, CDPE, CIAS, PA
Winston Realty, Inc.

Overpricing seems to be an on going issue that seems to be part of the business. If it was not so, how would any of us call all those expireds.

April 06, 2012 05:36 AM
Ambassador
653,509
Karen Crowson
Livermore Wine Country Homes
Alain Pinel Realtors, Pleasanton, CA
Sometimes it's better to be the second agent. Often the clients won't budge on a price reduction even though they have have agreed to it up front.
April 06, 2012 05:37 AM
Rainmaker
188,683
Brenda Mayette
Miranda Real Estate Group, Inc.

Nice post, Richard & Beth! It seems like such a simple concept but is such a challenge to so many sellers. I was recently a seller's 2nd choice to list their home. When asked why it was because my comps were current & they didn't like what they saw. I'm now waiting for that expiration date to hit....!  :-) 

April 06, 2012 05:54 AM
Rainmaker
519,688
Richard & Beth Witt
Broker/Owner RE/MAX Wittney Estates Long Island NY
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com

Winston... the expireds in our area are out of control, but as you say more for us guys..

Karen.. thanks for your comment... we always have them sign the reduction when we take the listing.. it works very well...

Brenda... Thanks for your time and your thoughts...  I think price and fee cost great agents more listings than anything else... hope you get that listing when it expires...

April 06, 2012 07:28 AM
Rainmaker
1,752,350
Gita Bantwal
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
RE/MAX Centre Realtors

I like your idea of having sellers sign the reduction at time of listing the house.

January 04, 2014 06:05 AM
Anonymous
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Rainmaker
519,688

Richard & Beth Witt

Broker/Owner RE/MAX Wittney Estates Long Island NY
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Additional Information

Richard Witt offers local news and information as well as agent training, broker assistance, current listings and market reports for the entire Long Island New York area.