Can You Learn From the Dragons?

When I saw Kevin O'Leary's tweet about valuations it rang in my ears.

By now I assume everyone has at least heard of the hit CBC show Dragons' Den. Kevin is the "Simon Cowell" of the venture capital world. He is jagged and unrelenting on business owners to show him the money. His words above are the common denominator in deals turned down on the den. Most people go in looking for too much and have too high of a valuation. This is no different then those selling their house.

We recommend all sellers make sure they have the right information when pricing their home. As I have said many times before this is best made available from an independent appraiser. What happens when a home seller takes that advice? As you can expect, if they start with a fair market value appraisal to base their pricing decision on, they get people wanting to make a deal. If they choose to over value their home then buyers are going to say one thing..."I'm Out"

Check out what this Vancouver realtor has to say regarding price...


That's right, he said it. Price is 90% of the selling and marketing is only 10%. So tell me why an appraisal costs $250 and an agent costs $15,000. Seems to me your better investment is the appraiser not the realtor. Seems to me your better to drop your realtor AND your price so you can sell your house!

M