We Recommend a List Price, Not Guarantee a Sales Price.

By
Real Estate Agent with Keller Williams Realty

What We Do Is Recommend a List Price, Not Guarantee a Sales Price.

But if we do our jobs right and put forth every effort to analyze the comparable sales based on similar properties (not everyList Price single property that sold within a certain time frame and distance), we'll hit the mark or come awfully close to setting the list price just right (for the market that is).

I hear agents say all of the time, "I could have sold that house for $XXX,XXX.  Of course if the agent didn't sell the house, there is really no way to back that claim up. In essence, it's all speculation.

You've heard the expression comparing apples to apples right? Well that same rule applies to real estate and comparison prices of homes sold within a given distance from a subject property.

If you are considering selling your home, be sure to pay extra close attention to the homes that have sold that are similar to your own.  The house down the street may have sold for much more than the price your agent recommends for you own home, but that is likely because the house down the street contained some features that your home doesn't. 

Don't take it personally.  Real estate agents rely on data to make determinations and assessments.  It's what we do.  If you're going to be hiring a real estate agent soon, ask them to walk you through the steps of how they arrived at the recommended list price.  Hopefully by doing so, you'll understand better where that number came from and why it makes sense.

And if you are in the Birmingham, Alabama area and are interviewing agents to list your home, I hope you'll afford me the opportunity to interview for the position of listing agent.  I assure you, you'll be quite comfortable in your decision to hire me.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Tags:
31dc

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
855,225
Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Charita...EXACTLY and well put.  As agents we use the data and numbers generally don't lie.  Unless your home has way more than the comparables, chances are it's going to sell for about the same give or take a little.  No one is trying to offend anyone and if you get an agent that says they can sell it for Way more, I would be wary of them blowing smoke IMO.  :)!!

Mar 02, 2013 05:35 AM #1
Ambassador
768,033
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

"Give or take" is where I'm going with this Brenda.  The other end of the spectrum is that we can't foretell what offer the seller will end up accepting.

Mar 02, 2013 05:46 AM #2
Ambassador
3,984,175
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Charita, Sellers do take it personally when we use market data to analyze a list price and it is well under what they think it is worth. They think their home is superior, always.

Mar 02, 2013 06:39 AM #3
Rainmaker
1,560,756
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

If I was in the Birmingham, AL area and was looking for a GREAT listing agent -- I'd be signing up with you!  This post says a lot.  Being realistic about the list price and basing it on a solid comp, now that's the way to do it!  (Suggested)

Mar 02, 2013 06:40 AM #4
Rainmaker
804,915
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Nice post, and might I add, if they could sell it for XXX.XX, why didn't they??

Mar 02, 2013 08:07 AM #5
Rainmaker
1,112,254
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Charita  I always thought a list price is for comparing one home to another.  Too high and buyers are turned off thinking they have an unrealistic seller that will be hard to deal with.  Too low and they wonder what is wrong with it.  Priced fairly and they want to see it and compare.  What more can you ask for than someone to tour your property?  GREAT blog!

Mar 02, 2013 11:02 AM #6
Ambassador
2,756,294
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Charita, Sometime the most challenging thing in our business is getting a seller to agree with what the data tells them.

Mar 02, 2013 11:45 AM #7
Rainmaker
2,696,554
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Very well said, Charita.  It should be done objectively comparing the features, location and condition of the home.

BTW, I would take out references to the challenge in your title as it's confusing for customers (and not good for google).  Or, if you do include, include it at the end. 

Mar 02, 2013 06:26 PM #8
Ambassador
768,033
Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Debbie R. you are right about that  Sellers almost always think that their home worth than it is (for whatever reason).

Thanks Carla.  The truth my hurt, but it helps far more.

Cindy "ya know?"  That's what exactly what I always say.

John I could delete my entire post and replace it with your comment.  You so eloquently stated my stance in far fewer words.  You're awesome.

BLiz, "sometimes?"  Just kidding.  You are so right, it's a tough job but knowing the market helps makes it easier to present the facts to the seller.  After all, we know best right?

Debbie that is exactly what a "comp" is.  Although when I look through the MLS, I can clearly see that some agents obviously used every sold, pending, active listing to price the current lisitng despite the differences in the property.  Go figure. 

Also Debbie believe it or not, I was thinking about that (challenge ref) when I woke up about 3am). I had decided that I would remove it and just label my tags accordingly, but thanks for the tip.

Mar 02, 2013 07:53 PM #9
Rainmaker
2,696,554
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Great minds think alike!

Mar 02, 2013 07:57 PM #10
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
768,033

Charita Cadenhead

Serving Jefferson and Shelby Counties (Alabama)
Ask me a question and expect an answer.
*
*
*
*
Spam prevention

Additional Information