When pricing your home to sell (in any market)…Is a Real Estate Brokers price opinion the same as an Appraisers???
Pricing your home to sell is one of the hardest…and perhaps most important…tasks in residential real estate. Add to that, the misconception by some sellers that an appraised value is the same as what a (ready, willing and able) buyer is going to pay…and it’s no wonder coming up with your homes marketable value is comparable to pinning the tail on the Donkey!
I often get asked by potential sellers; “Should I get an appraisal prior to listing?” This question is not easily answered. Pricing your home to sell takes into account so many more factors than what would be considered in a normal appraisal!
Real Estate Broker Price Opinions are much Different than an Appraisal…but for very Different Reasons
Unfortunately, there are some real estate agents that will tell you what you want to hear when pricing your home to sell. This is commonly referred to in the industry as “Buying a Listing”. This practice is in use by those unscrupulous real estate brokers who (over) price your property in order to sway you to list with them. This wastes valuable market time and does not benefit the seller in anyway. I always recommend interviewing more than 1 agent when considering selling your home.
Sometimes, the Seller and the Agent might not agree on a Price.
And even if they do, the sellers might look for some “objective” method to corroborate their number. In this case, an appraisal is a great way to give a seller and/or a Real estate agent a reality check.
Keep in mind this appraisal will not be beneficial to the buyers lender as they will have to conduct their own appraisal at the buyers expense. It may not exactly match your appraisal but it will be close. Market conditions change rapidly so a pre-listing appraisal may be obsolete by the time your property sells.
Remember…true value is determined on a price of what is agreed upon between a willing seller and a willing buyer. That is free market value!
Pricing your Home to Sell is a Delicate ‘Game’
The one and only focus should be getting the most money for your home in the most reasonable period of time…without over-pricing it or worse…valuing it outside of what the market or comparable homes in your area will support!
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate