Market Analysis unreal

[zeeshandar]

I had an agent from a local real estate office come and look at my house to do a Market Analysis. About a week later I got a print out that didn't have any information about my homes bedrooms, living,sitting,formal dinning room,den or the very extensive landscaping I have put in over the past few years. The house does have some condition problems but nothing that a little tlc that I am not willing to put in myself wont fix. It is an 1827 house and it has great bones and foundation. The Realtor really insulted me by giving a listing price that is actually 5,000.00 less that what I paid for it. I didnt feel like I trusted the man as he told me that he knew many of the old time residents and had sold many homes in the area in the past. He made it seems as If I would be doing the "neighborhood" a favor by selling at the price he suggested. How do I know that an agent is credible or trustworthy even if they represent a large local agency ?

[Web Agent]

Maybe you should have an appraisal done by a licensed appraiser. Make sure you tell them you want a value appraisal done and planning to put your home on the market.

[1813611]

I would suggest contacting a few other real estate agents in the area to get their opinions. Keep in mind that in this market most homes are selling for less then the current owner paid or owes. Be sure to tell all of the agents that you don't want an inflated opinion; just an honest one.

I recently met with my next door neighbor who planned to sell their house; I told them I thought it was worth about $300. The poor woman nearly cried. She hired an agent who listed it for $410k because she wanted to believe the house was worth that. Eight months later the house sold for $287k. I'm sure if we has listed it for $330k she would have sold it right away for a bit above $300k before the market really started to drop. Don't fall for the inflated value trick when selecting an agent.

[scottiegrace]

I agree with the idea of getting a second and third opinion. If all 3 agents are in the same ballpark then you know that you got good advice from the first one.

[Kari Battaglia Englewood]

You should always interview more than one Realtor if you are considering selling your home. I agree with Minesota Realtor, don't just list a home with a Realtor based on listing price alone. What is their marketing plan? Do they offer any special services in addition to the standard services or are they just putting your home in the MLS. There are a lot of hungry agents out there and will tell you anything to get your listing. You need to decide if you just want to list your home for sale or do you really want to sell it.

[Dionisia]

Based on that situation you should look for another realtor to market your property, there is nothing wrong if you would get an opinion from other agents

[pacrealty]

Get a second, third or fourth opinion and ask specific questions about how they come to their conclusion about the selling price. One you have enough facts from enough different resources, then you can make an informed decision.

[BrandonD]

go with a licensed appraiser.

[realestategirl]

I suggest that you first consult with a licensed appraiser then you consult with other real estate agents. If they are all in the same region, then that is probably what the house is worth. In this day and economy, house prices are quite unstable. They go up one day then fall the next. It would also help that you ask your neighbors on when they sold their properties, that might be a huge factor in the pricing of the property.

[Kjmendy]

This question was asked over 2 years ago. Please let this thread rest in peace.