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Real Estate Values Using Your Local Real Estate AgentCMA (Comparative Market Analysis) is a great way to establish real estate values. As of this writing, most real estate agents will do this for free in the markets that I'm familiar. You should start by calling two real estate agents that are known to work in your neighborhood. Set up appointments with each of them either on subsequent days, or make sure that you leave enough time between appointments. Personally, I'd leave 3 to 4 hours between the appointments just in case you get a long-winded fellow like myself! The agents will probably do a presentation of some sort about why you should list with him or her and may give you a market value then or may set up a time to return with the real estate values. 
It would be my advice that you not tell them you plan to sell by owner until they have given you a price. After you have been given a listing price by all means tell them you are going to “try” for sale by owner.Of course we both know that after finishing your Master's Degree in Sell My House FSBO you won't be just trying but accomplishing! You will notice in my header above I said 2 or 3 real estate agents so now the why. After both real estate agents have given you their opinion of real estate values, or a broker price opinion, you may have a problem. The first agent says your house should sell for $295,000.00 and the 2nd agent told you $272,000.00. Which is it? Why are they so far apart? What to do?
Reasons Why Price Can Be So Far Apart When a CMA is Done by 2 Different Agents The first reason for 2 totally different prices can be as simple as one real estate agent not knowing the neighborhood well enough or being new to the business. The second reason could be the “Hidden Agenda” Let me explain. When the pricing given is well above market value, the real estate agent may be inflating the price thinking if there is other agents coming in, you will go with the highest price. Of course after being on the market for a short time they are trying to convince you to lower the price! When the pricing given is well below market value, the hidden agenda may be the “quick sale”. The real estate agent in this case may be trying to “low ball” you so that the house will sell quickly and therefore the agent will receive a nice commission cheque.
Solving the Problem Who is right? Who is wrong? What shall I do? You call the 3rd agent! Now all you have to do to be reasonably certain, is take their opinion of the real estate values and compare it to the other two. Dollars to donuts, the third price will be close to one or the other. If it is $293,000.00 probably $290,000.00 - $295,000.00 is in the ball park. If the third price is say $269,000.00 then you can be reasonably certain that somewhere between $268,000.00 - $273,000.00. Using a broker price opinion is actually a very good way to establish price, but it lacks one extremely important ingredient. Do you want to know what that is? Sorry you will have to go to the next and final way of pricing your house. The next method will eliminate one of the huge drawbacks of selling for sale by owner.
The Whole Package When you take the Master's Degree Sell My House FSBO course I promised the whole package. This information is not watered down. We explain the the what, where, when, how and also that very important WHY! After you look at the why you hopefully will be thinking “That makes perfect sense”. Return to - Sell My House - Home Page Disclaimer Privacy Policy Contact Me
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