When you have elected to sell your home, one of the most important decisions you will make before you actually put it on the market, is where to price it. Unfortunately, far too many sellers and agents use the wrong criteria for selecting a home price. You’ve heard it before, and it bears repeating…”Your home is worth exactly what someone else is willing to pay for it…not a penny more, nor a penny less.”
That said, many sellers will calculate “what they want to make” on the sale, which is not only irrelevant, it is counter-productive. Most buyers, if not all, are not concerned with what the seller will net on the sale. Likewise, many agents will over-price a property in an effort to get a listing, only to set false expectations for the seller and subject the property owner to months of frustration and wasted time. In a falling market, this strategy could be devastating to a seller.
Fortunately, sellers have a wealth of tools at their disposal to help them find a realistic “range” that their property should sell for. The Zillow “zestimate” for example, is a great starting point in determining the value of a property, but it is not a substitute for a professional valuation. Even Zillow, the creator of the zestimate, confirms this on their own website. If you think about it, it makes perfect sense…there are many things a computer can do, but many thing it cannot do.
Any algorithm that creates an online estimate will not have the benefit of walking through your home to see what makes it different than all the other similar homes in the neighborhood. It would not have the benefit of hearing the home’s “story,” as told by you, the seller. As I stated, there are many things a computer program cannot do…and that’s why you need a professional’s opinion. Whether you ultimately hire that professional, or not is clearly your choice, but do yourself a favor and get a professional opinion. Pricing the property correctly is the single most important thing you will do before you put it on the market.
I have conducted over 3000 professional Broker Price Opinions for large institutional banks and investors, and have been confirmed as an expert witness with regards to property valuations in Stanislaus Superior Court.
I can tell you what your property is likely worth, as well as how I arrived at the figure, and will do so at no cost to you. Call me today for your private assessment. Curt. 209-505-8679.