You don't need Bob Barker to answer your question!!!
When you are considering selling your home the big question is "How much is my house worth?" It's a great question. It's the most important question you should be asking.
So how do you go about finding the answer? Well the best way is to hire a third party appraiser. This unbiased professional opinion is your best bet. The investment of $250 is a good one in the sale of your home. Knowing that you are priced right can save you time and money! Heck you can even make this report available to prospective buyers!
If you are more inclined to figure things out on your own there are a few things you need to do. Watching the market is a great way to understand what is going on but you have to know what you are looking at. People can list there home for as much or as little as they want. You can learn from this if you are paying attention. Specifically it is good to watch comparable homes in your neighbourhood. Are they sitting for a long time? Did one just list and sell right away? Are their reduced price stickers on the signs? These nuggets of knowledge are all telling you something. The one thing you should always keep in mind is if a home is priced correctly it will sell (so long as you get the needed exposure).
If you are looking for better information, than the key number you want is their SOLD price. A home is only worth what someone will pay for it, no matter what they were listed for. So how do you get this info without calling a home appraiser or real estate agent? One way is to use the public info available to everyone through MPAC. As you can see on this sample report you can chose comparable properties within your community and it will show you the last sale date (if within the last 5 years) and the price it sold for. When I SOLD my house last winter I printed this report with 4 comparable properties and handed them out with my feature sheets to prospective buyers.
Giving prospective buyers information on how you priced your home is a great way to avoid situations like this...
M
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2 comments:
Hey Mike,
I think I have been able to solve the pricing problem within my franchise area! This year I partnered with an appraisal company and offer this service as part of all of my packages, no opt in or out! Whenever I get the question "How much can I get for my house, or what price should I put on?" I can answer that it will be taken care of by the appraiser!
This has done wonders and made all clients feel a lot more confortable as to "pricing it right".... The report that is provided to the seller is a great tool for them as well, as they can show buyers where the price came from and the comparables that have Sold. It takes all of the guess work out and fixes a price for the seller based on factual data, without a biased opinion! I would suggest this solution to anyone out there! My partner gave me a good deal on the service, I have increased my prices just a little, to offset a portion of the cost.
Mike Hannay
PG Fredericton
Thanks for the comment Mike!
We do offer an appraiser in our ProLink services as an option. Knowing the importance of pricing I like the idea of the inclusion with all packages...
M
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