Do your homework!
I know that when I finished school, I thought that I would never have to do homework again.
These days, the majority of us don’t stay up late figuring out trigonometry or the meaning of Shakespeare's writings. Instead, we’re doing homework regarding the next computer that we could purchase, or maybe which car is the most fuel efficient for your commute to work. These are things that we will use nearly everyday, and we have taken it upon ourselves to do a bit of research to make an informed decision…
A SMART decision…
So, when it comes to selling your home, do you do the same amount of research? Or do you rely fully on your Real Estate Agent? As a Real Estate Agent, I would expect for you to rely on me a great deal, but I would never discourage you from doing a little bit of research as well. As a team, we can make an educated decision together and sell your home quickly for the right price.
When it comes to selling your home, do some investigating about sales in your neighbourhood with your Real Estate Agent, and together, arrive at a fair selling price. Choosing an accurate selling price, reflective on the home entirely, can be the most crucial thing that you do.
You see houses in your neighbourhood that are similar to yours are selling quickly. We all know that you browse the MLS to see pictures and prices, or you even go to the open house with no intention to buy. It’s ok, it’s in our nature to be curious.
So, you decide that you want to sell your house. Do you think that your house is as good as the ones that just sold in your neighbourhood? Is it better? Or does it need some work?
This is where you need a Real Estate Agent that you can rely on. Sometimes, the things that you need to hear, are not the things you want to hear. That’s why its best to have two to three Agents to come by and give their Comparative Market Analysis (CMA) about your home.
Here is the Scenario:
There are three houses in your neighbourhood that are similar to yours:
All three houses have 3 Bedrooms/2 Bathrooms that just sold in the last couple of months for $289,900, $301,600 and $323,000. The most expensive home has a finished basement and a detached garage. While these houses aren’t exactly the same, the average selling price is $304,800 (rounded).
So it would be fairly safe to say, that your home would be worth around $305,000, give or take approximately $15,000.
So, as I suggested, you have three Real Estate Agents come to assess your home.
Agent #1 - Tells you that the market value on your home, based on the recently sold com-parables and the updates that you have recently completed, your house should be priced at $310,000.
Agent #2 - States that she has sold numerous houses exactly like yours all over the city, and she tells you that you should be listing your house at $320,000.
Agent #3 - This is the guy that has a bunch of FOR SALE signs out there and you’ve noticed that some signs have been sitting on front lawns for a month or two (or longer). He tells you that he can definitely sell your house for $340,000.
I need your honesty here…
Which price really perks up your ears?
Which one makes the most sense?