I get a call to come look at a potential sellers home in hopes of listing it. When I get there I am sometimes met with some very defensive sellers filled with questions like: "What is your commission fee?" "This certain website or agent says my home is worth this much." "I won't accept lower than this price!" Whoaaaa.... let me at least sit down.
Okay...... Then I find myself asking potential sellers "Do you want to list your house or sell it?"
I can see the puzzled look on their faces and I proceed to explain what I mean. Well it is simple. There are many agents out there that will tell you what you want to hear in order to get your listing. They are NOT looking out for you! You know who they are, the ones with homes on the market for long months or years. Why would anyone want to go though the selling process only to spend months of always make sure your home is spotless and ready to leave anytime someone wants to see it and not have it sell????? Just does not make sense. Something has to give! In the end it ALWAYS come back to PRICE! It does not matter how much the agent does to market a home if it is priced to high it will NOT sell.
When I do a CMA on a home:
- I pull all the homes that have sold in the last few months that are comparable to theirs.
- I also will pull all their current competition.
- I pull anything about the subject home (how much they paid, how long they've owned it, ect.....)
- I have to look at the home (inside & out). What has changed since owning it?
- Then I ask how much they owe on the home, but make sure to tell them it will not effect the price range I will give them.
After all is said and done I can finally give them a clear view on how much they should list their home at. Sometimes it is what they want to hear and sometimes not. Sellers have many reasons on why they want or have to sell; to up scale or down scale, divorce, career move, death, loss of job, or they just need a change. The market is always changing sometimes it works in your benefit and other times not. If the list price is not going to work for you, then you should NOT sell at this time. If you HAVE to sell then ask about other options. I care and want to help the process not take your money.
Again I ask the question: "Do you want to list your house or sell it?"