Lately, I have heard from many Seller's across the nation, that their Agent's have used REO's and Short Sales for comparables on their Fair Market Value home. When I do some researching in their market, I find that there are a plithera of Fair Market Homes that can be used for their comparables. So how do you help your client, when you don't know the Market?
Simple, Ask a local agent for a CMA on your client's property. If they give you a CMA package with REO and Short Sales, with no FMV properties, then they are probably not the agent for you.
Although all the markets are lavish with REO's and Short Sale properties, we don't want to forget about your Fair Market Value Seller's and Buyer's. I have clients who want to buy a Move in ready, FMV home. They don't want to fix up a home. We need to remember to market our Fair market property's equally as efficient as our REO's and Short Sales. It won't be long until we are back to selling only FMV homes.
Have a Joy-Filled Day!