Donna Yates, Move 2 North Georgia.net: Dear TZ - I think my house is worth more than my REALTOR thinks!

Dear TZ - I think my house is worth more than my REALTOR thinks!

A great message for sellers written by Wayne and Jean Marie Zuhl who are real estate professionals in New Jersey.  Whether it's real estate in New Jersey or real estate in North Georgia, this post applies.  If a seller's true objective is to get their house sold, then being realistic with price on the part of the seller is imperative but price goes hand in hand with desire too. (Desire on the part of the buyer).  So, sellers, determine your true objective and motivation and help to develop a dynamic marketing strategy with an experienced real estate professional.  Donna Yates, North Georgia Real Estate

Dear TZ,

I've taken your advice and chosen my REALTOR. I really like her, but she thinks my house is only worth $300,000, but I think it's worth $350,000. How can I convince her to list it at $350?

Greedy Gus

 File:Balance beam GMM.jpg

Dear Gus,

It's not easy to balance how much you want for the house and how much you can actually get for the house. The chances are that your REALTOR(R) is probably closer to the right price than you are.  After all she is a Real Estate Professional and her job is to KNOW the local market. Chances are, she keeps tabs on all the new homes in the neighborhood that come on the market and she probably previews them as well.  

Let me pose a question to you.  What if you list the house at $350,000 and you get no showings, will you be upset with your REALTOR(R)?  Probably, you'll think it's her fault that nobody is coming to see the home.  After all her job is to market your home to the buyers.  Do you know what one of the top marketing tools is?  PRICE.  If a property is overpriced the buyers won't waste their time looking at.

Suppose that someone sees your home, falls in love with it and make an offer for $340,000.  You accept the offer.  Now the buyers mortgage company will have an appraiser come in and do an appraisal on the house.  The appraiser places the value at $302,000, within 1% of what your REALTOR said it was worth.  Now the buyer's bank will not give them a mortgage.  They back out of the deal.  Now what?

The best solution and it's a relatively inexpensive one, is to have a PRE-appraisal done before listing the home.  This way you'll know EXACTLY what the home is currently worth.  If you've had an appraisal done that price is only good for about 6 months, so make sure you get a pre-appraisal just before you list and price your home at or within 1 or 2 percent of the appraised value and chances are you will get your home sold very quickly.  

Best of luck to you Gus!!!

Team Zuhl

 

 

Please note that all information is reliable but not guaranteed.  Please consult with your Real Estate professional before making any Real Estate decisions. 

 

Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
Serving North Georgia Mountains and Metro
Metro Brokers - Better Homes and Gardens Real Estate
706-515-7500 Office

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Comment balloon 5 commentsDonna Yates • May 20 2012 06:44AM

Comments

Hi Wayne and Jean:  Excellent post and I am re-blogging.  Thank you.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 5 years ago

Hi Donna...Thanks for Re-blogging this Post.

Cheers, have a Fun and successful day

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 5 years ago

Fred:  And you too!  Thanks.

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 5 years ago

Thanks, Donna! 

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Hallmark Realtors) about 5 years ago

Great post Wayne and Jean.  I appreciate being able to re-blog.

 

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 5 years ago

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