I’ve been thinking about value a lot lately. Well, duh, you’re probably saying to yourself. I am a Realtor® after all, I SHOULD be thinking about value, right? Recently I watched this video:
http://mrisblog.com/2012/01/real-estate-iq-what-is-the-value-of-a-real-estate-pro/
Market values of real estate, market values of real estate practitioner…how does the average person establish value? How does the average consumer evaluate all the information out there and make an informed decision?
I would posit that education is the key. Educating yourself about any given product in the marketplace makes the decision making process less stressful.
But let’s focus on real estate. Any homeowner has the ability to put a “for sale” sign in their front yard and decide on an sales price. Take a few photos, post to craigslist, and wait for the buyers to come knocking, emailing, calling. Sounds easy, huh?
Maybe, maybe not.
Are you, Mr. or Ms. Homeowner, able to evaluate your neighborhood/community/county sales statistics at a glance?
Are you able to access information on comparable homes that have recently sold, or are going to sell within the next several weeks or months?
Because I would guess you know what you paid for your home when you purchased it, and I think you know what you want to sell it for now. Unfortunately, neither of those numbers have any bearing whatsoever on what your house can sell for in today’s market. Your perceived value on your home means nothing in the marketplace.
If your Realtor® has told you this, Bravo! You have hired the right person to sell your home. Your Realtor® has calculated an asking price for your listing that will fetch an attractive amount of potential buyers.
Advertising of all varieties: MLS, websites, pretty pictures, open houses, etc. are part of the job you hired your professional to accomplish, but ultimately, the goal is to sell the house. And the simple key to selling is effective pricing. Positioning your property correctly in the marketplace is the surest way to sell the property.
A successful real estate practitioner earns her living by selling properties. Market value pricing equals sales. Realtors® constantly and continually educate themselves on their local markets and the housing industry as a whole. Hiring the right professional means you benefit from this education.
So when you think the time is right to sell your home, you can do it yourself. You might get lucky.
Better yet, position yourself and your home strategically in the marketplace by hiring a professional. Listen to her advice and then take it. You will be on your way to the closing table much more quickly!
TBO (The Bossy One)
