Sometimes as a real estate agent I see a price on a newly listed home and think "WOW, that home is REALLY underpriced!". Like tens of thousands of dollars underpriced.
Now sometimes the underpricing may be entirely on purpose. The seller has a need to have a QUICK sale and their priority is strictly getting rid of their home and not about getting maximum dollars.
But what if the seller doesn't realize their home could have been worth more, even significantly more?
For a buyer's agent there's no dilemma. The agent's fiduciary responsibility is solely to the buyer. Get the lowest possible price and best terms. There's no obligation to tell the seller anything at all about how low they're priced. That burden is solely on the listing agent to get the price right.
Now within the trade agents get reputations. That agent tends to price high. That agent tends to price low. That agent tends to nail the market conditions and price VERY closely to what the final price will be.
So when I see a WOW that's a low price on that home paired with an agent who's claim to fame is WE SELL HOMES FAST!!!, I wonder if the seller really intended to leave thousands of dollars on the table, or if they just wanted a really quick sale?
In today's tech savvy world where so much information is available, it pays (literally) to have a general idea of what your home is worth before you hire your listing agent. If your listing agent has a price that's either way high or way low compared to what you expect, the agent should be able to pack up that price opinion with facts. What are the comparable sales? What is the market trend? Climbing, falling or stable?
When you understand those numbers, you can determine the strategy that works the best to meet your sale needs: fast, most money, or a balance of the two?
Questions? Just give Bill a call at 513-520-5305 or email Liz@LizSpear.com and we can discuss how we can help you!
Serving Greater Cincinnati home buyers and sellers,
Liz and Bill aka BLiz
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