Real Estate Blog - What Will My House Sell For?

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What Will My House Sell For?

When contacted by a client who is interested in selling their home, I always do what they call a 2 Step Listing process.

•1. Preview the home

•2. Set up an appointment to review my CMA with the client

Why the 2 steps, some clients and even some agents ask? Everyone is in agreement that pricing is so important in this market, or any market in my humble opinion. Well, for me to price your home correctly I really need to see it! Yes, I can get all the data from various sources and I am interested in any updates or special features you want to tell me about, but honestly.... How can anyone give you an accurate list price of probably your biggest investment, without ever seeing it prior to showing up at your door with a CMA in hand.

The first step - I will only take up approximately 20 minutes of your time, I just want to do a quick walk through and it also gives us a chance to meet each other. Even if we already know each other, I still want to take a quick look at your home unless I've been there recently.

The second step- After meeting you and previewing your home, I then schedule a time for us to sit down and review the CMA I'm going to prepare. What's this CMA I keep mentioning. It's a comparative market analysis, I study the recent closed sales that are most comparable to your home as well as what's currently on the market - the competition! We then come up with a list price, what your expenses are going to be and my marketing plan for your home!

If you're thinking of selling your house and would like to know the value of your home call or email me to set an appointment for a free Comparative Market Analysis. No pressure, No obligation.

Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652

http://www.mmhomesearch.com/

Mike Mitchell - Realtor

Posted by Mike Mitchell - REALTOR® - St. Clair Shores, MI on 03/13/2009 07:27 AM

Comments (14)

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14 Comments on What Will My House Sell For?

MAR

I did a post a couple of weeks ago I called the Texas Two Step. As an appraiser now selling full time, this is dear to my heart. You just can prepare a much more meaningful and accurate CMA having the benefit of viewing the home. It also sets you up as professional and competent. It amazes me some of the comments I received about the two step visit just allows another Realtor to come in and list, etc. I guess some are afraid of their competition. I never have lost a listing because of a two step visit. Now, I've lost it because I didn't validate what they thought their home was worth. Good post and reminder to be a top professional.

Hi Connie, thanks for commentining.

I am not afraid of competition at all, in fact I've received listings because I did the 2 step, so I agree with you.

I'll check out your post, I like the title!

In Atlanta I used to do the 2 step approach, but the number of agents rose so high it was pointless. We rose from 13000 agents to 46000 in 3 years.

Jim - I used to do the 1 step when I first started in real estate, I had a manager that was very adamant about doing the 2 step and we used to argue over which was better.

Since I started using the 2 step, I've found it's a definate advantage, in my opinion.

The two step process makes the most sense, how can you give a price on something you have never seen. I always do this myself. I go to the home the day before and preview it. Then I go back to present the CMA and my full marketing plan.

Mike, you make a good case for doing a two step process. Thanks.

David - we're in complete agreement! Thanks for stopping by.

Michael - Thank you, I appreciate your comment.

I agree with you Mike. A two-step is, in my opinion, a much more meaningful and professional way to go. I too have fellow agents who love the one visit method which they believe is more productive. However, I prefer to provide my potential clients sufficient TIME to get to know me and appreciate the effort expended in order to provide them a thorough assessment of their home.

MAR

Tom - thanks for your comments. Well said!

MAR

Mike, I like to play devil's advocate, so just consider my comment food for thought:)

Why would an agent in this market, spend their time drivning to a property, going through it, preparing a CMA and then going back to the property for the presentation - all BEFORE the seller hires them?

EVEN plumbers and repair people charge for a service call! Why do agents sell themselves short and do so much work for free?

We all know that the market will determine the sale price of a property, not the agent promising the highest sale price or the one with the fanciest presentation.

What would happen if you asked a seller to schedule an appointment at your office? It'd be a scary process to implement, but the sellers that understood would be much easier to work with as they'd respect you more:)

Let me know your feedback on this idea.

Drew - I appreciate your comment, however, first off - charging a fee for a cma in MI is illegal.

I have met clients at the office to review my cma, I've also done it over the phone & email for out of state clients, but for the second step only. The location of the cma presentation is basicaly wherever is most convenient for my clients which most often is their home. I have no problem having to go there twice because as I said, the first step of previewing the home is a must in my opinion to get an acurate market price.

Thanks again for commenting.

MAR

I have never thought about it, but I guess I do a form of a two step too. I NEVER talk price on my listing appointments.

MAR

I usually go in and just get the listing - but after reading your blog - I realize 2 step is the way to go!

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