Interview at least two or three real estate agents to get an
idea of fair market value. Also ask them how many homes they have sold in
the immediate area in the last year. The trouble is that if you go with
the first agent you find, you might end up leaving money on the table if the
market value estimate given is not a fair market value or the agent is somewhat
inexperienced and has not had much training in marketing and selling.
Just the other day, I was chatting with a friend and she told me her elderly
neighbor, “Sally”, was approached by a real estate agent that
was going door to door asking homeowners if they were interested in selling
their homes. Some agents are doing that because Coral Gables' inventory is so
low and they have nothing to sell or advertise. This “roving” agent
gave “Sally” a quick and easy estimate of a listing price. The
lady does not read the papers often and had no idea how quickly the
market has turned around in our town (up at least 25% from two years
ago). She agreed to let the agent bring a customer by and took
the first offer that came in selling her house immediately. It
turns out that “Sally” probably left more than $200,000 on the table...Money
that she could have made very good use of in her retirement. The property was
not marketed and not placed on the MLX. It is a shame that this older
woman was really unaware and should have at least asked another agent or some
of her friends for advice.
In any market, it is important for your Realtor to
price well so that you get top dollar and sell quickly but you need
to seek an honest, professional opinion by reviewing research
and comps. Ask your own neighbors, and friends and family, to recommend a
good agent. You will be happy you did.
Comments
Boy, does that sound familiar.
Wish I had read your blog before meeting you.
Just call me Sally.