Probably one of the most important questions that can be asked of a real estate professional. Who’s fault is it really?
I’d venture to say we may want to talk about responsibility and not fault. It would be the expert’s fault if a listing was taken in an overpriced nature without both parties having agreed to “overpricing” being their strategy.
In some markets, it can work, but those are very few and far between.
First, what you do is find out Fair Market value directly. How much will your home sell for? When you are looking to get that number, don’t look on websites who are going to monetize your personal and private information(See my article on Syndication websites). They are most likely not connected to the multiple listing services.
In order to get the real and actual values for real estate, you need to be a member of the National Association of Realtors and the California Association of Realtors, and for the Greater Los Angeles and Santa Clarita area, you must be a member in good standing with the local Southland Regional Association of Realtors.
That’s a bunch of memberships, each costing the real estate agent money. So hence why that information is not floating around within the online channels and real estate syndication websites.
Second – you need a qualified real estate agent who is able to decipher the information and apply it in a current real estate market scenario.
After you have the data, you will know what your home is going to sell for. Maybe you think your home is worth more. I would ask how that is possible when the estimate of value was completed with appraisal guidelines being adhered to?
I mean, if someone has a suitcase of cash wanting to buy your home and doesn’t care about the appraisal – that’s different.
But, how many of those folks are out there wanting to buy your home?
The banks are not going to lend more than your home is worth. Today, they won’t allow someone to borrow more than they deem them being worth either!
When you have a real estate agent stating that they can sell your home for more than the comparable values that you are looking at in black and white, run for the hills. Actually, you don’t have to run, just show them to the door.
Be wary. There are a ton of GREAT Realtors in the world. As police, we had to remove that “world view” of what society at “small” thought we were. The same applies to the real estate trade.
The bottom line pertaining to the job of Realtors: There are way too many moving parts when it comes to buying or selling a home. The front line is going to come down to one of profit/commission. Professional, Knowledgeable and Experienced is going to carry a much higher price tag than a discount broker will charge.
However, with the P.K.E. Realtor, you will make more money than you will with a discount broker. It’s been shown they are worth their fee’s pertaining to experience alone.
I’m Connor MacIvor and I want to be your P.K.E. Realtor.