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Albany NY Real Estate

Buying and Selling Real Estate in Albany NY

By Kevin Clancy #1 Voted Realtor | Agent in 12203

When Albany NY Realtors "buy" real estate listings

Albany real estate is becoming increasingly competitive and often I meet with a potential  home seller that is talking to 4-5 other agents regarding the sale of their home. One of the most difficult aspects of listing a home in this market is determining market value. After 18 years as a certified appraiser, and over 10,000 home appraisals I have a pretty good idea of what a home is worth. However, lately it seems like I am hearing the same comments over and over. "xyz agent with xxx realty says I can get $50,000 more then your estimate of value". I call this buying a listing. Another agent will either intentionally or by error tell a homeowner a grossly inflated number in the hopes the seller lists with them rather then accept a detailed, realistic,  supportable actual value estimate. The agent lists the home, it doesn't sell,  and then they  start a series of price reductions that brings the home down to where is should have been listed originally. It wastes time of the seller, other agents, and skews market statistics.  The worst case of this I was involved in was two years ago. A seller decided to list a home for roughly $100,000 more then my estimated value with another Realtor that assured him he could sell the home quickly for the higher price. Keep in mind this was a seller that wanted a 60 day marketing time. The result was 2 years of marketing, with 3 different Realtors, and with a final sale price lower then my original estimate!   If you are thinking of selling your home you need to have confidence in the value estimate your agent provides you. You should be asking the following questions. Are you a certified appraiser? How many evaluations in this area have you completed? How many homes have you sold in this area? What is your average sale price to <em>original</em>list price ratio? How does the average days on market for your listings compare to that of the market as a whole? What percentage of your listings expire unsold?  Don't make the mistake of picking the least experienced agent that tells you the highest value for your home. Have further questions about the value of your home? If you are thinking of selling visit me online for a free over the net home evaluation at http://www.clancyrealestate.com

Comments

By Brian Brosen,  Tue Oct 6 2009, 16:44
Thats why i love you Kevin, always a straight shooter -
By David & Samuel Rifkin,  Tue Apr 2 2013, 07:56
Thank you for this great information.

Samuel Rifkin
The Rifkin Team
 
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