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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Rainmaker
423,950
Raymond E. Camp
Empire Realty Group - Webster, NY
Licensed Real Estate Salesperson Greater Rochester

I now do an interview of all clients to find out the bottom line and ask them how I may sell their home this generally brings out price the most compellng factor.

No I do not always get the listing.

Happy Easter and good selling

Apr 06, 2012 05:08 AM #1
Rainmaker
718,370
Wayne and Jean Marie Zuhl
Hallmark Realtors - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Overpricing a home frustrates the seller - months of sitting without a showing isn't the way to get your home sold!

Apr 06, 2012 05:14 AM #2
Rainmaker
727,539
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

Thanks Ray for taking the time to comment on my post, have a great day.

Apr 06, 2012 05:23 AM #3
Rainmaker
727,539
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

Hey Wayne and Jean... how are you guys today... thanks for you comment and the thing I think awful about agents giving an inflated price to get the listing is that we are still in a market that is trending down so the long er it takes to sell the house the more money the seller loses... But then we pick em up when they expire.. it's just sad to me...

Apr 06, 2012 05:24 AM #4
Rainmaker
852,709
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

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.

Apr 06, 2012 05:36 AM #5
Ambassador
674,995
Karen Crowson
Alain Pinel Realtors, Pleasanton, CA - Livermore, CA
Livermore Wine Country Homes
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.
Apr 06, 2012 05:37 AM #6
Rainmaker
223,277
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY

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....!  :-) 

Apr 06, 2012 05:54 AM #7
Rainmaker
727,539
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

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...

Apr 06, 2012 07:28 AM #8
Rainmaker
2,043,626
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

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

Jan 04, 2014 06:05 AM #9
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Rainmaker
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Richard & Beth Witt

Broker/Owner RE/MAX Wittney Estates Long Island NY
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