General Area in Daly City>Question Details

Clarinrealty, Both Buyer and Seller in Daly City, CA

How can i get the house in best price?

Asked by Clarinrealty, Daly City, CA Mon Jul 9, 2012

I have a family friend who is a Realtor. She suggested a price for my home for that seems too low. Another agent suggested a price more in line with my expectations. Who do I choose?

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Answers

7
Sheryl Arndt’s answer
Simply have them each furnish you the market analysis comparables to you to study and decide yourself what a value would be. I know inventory is on the low side these days but look at what your competition will be in REO, Regular sale and short sale and it should be pretty clear? You do want someone who is experienced with what ever your sale is. Short sales are tricky and different than they were in the 90's, but it is better to have someone who has been around thru the last short sale era and this one to know what to do to fund these.

In this market where home prices are on the rise, List it at the higher price and see if there are any offers. You can always lower the price if there is not much activity, you will know if your over priced. Also, it is a technique that some listing agents use to put a lower price and start a multiple offer bidding war so it is your decision. Your home is going to sell with whatevery agent you choose. I know thru the years of finding out some friends or associates listed their homes somewhere else is irritating buy sometimes doing business with family and friends just doesn't work and can break a friendship. Good luck in your decision.

http://www.Under640FicoScoreLoans.com
http://www.FrankandSheryl.com

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Sheryl Arndt, Broker – Sr. Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Fri Oct 26, 2012
In a hot market usually it's hard to purchase a property for less than market value especially if it's not a distressed sale. What may help you to buy a property for market value in a hot market is a savvy agent that has a great offer presentation. Making sure they reach out to the listing agent as well as the seller to establish some type of relationship. Your offer presentation must be extremely detailed, including cover page, photo of family, net to seller, shorten contingencies, an offer summary page, and detailed escrow instructions. These are a couple of things that the seller will see and will start to feel more comfortable and feel less likely that you will back out of the deal. Remember sellers are likely as nervous as the buyer in most cases. They are nervous that their property might not sell or they will not get what their asking price so be sure to be persistent and extremely detailed. If you have any questions please feel free to contact me.
0 votes Thank Flag Link Wed Sep 5, 2012
In a hot sellers market, it'a almost impossible to under price a home as long as it's exposed and marketed correctly. The market will bid it up to the correct price and many times it will sell for more than it would have if you had asked for more.

As Lance suggested, why don't you have them go over the comps, (comparable sales) and then you can decide for yourself.

It might be best to interview one other agent.

Good luck!

The
0 votes Thank Flag Link Mon Jul 9, 2012
There could be lots of reasons for this. Your friend might be being honest with you and the other realtor is putting the price higher to get the listing - like Jeanne we lose a few listings for being honest.

It's also not the best idea to hire the friend just because she is your friend. Hire her because she's the best, or at least really, really good. Your property is too valuable an asset not to do otherwise.

I wrote a blog on why it's important to hire someone really good that I hope you will find helpful:

http://www.trulia.com/blog/lance_king/2009/09/it_does_matter…

I would ask both realtors for comps and evidence to support their pricing conclusions and go from there.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Mon Jul 9, 2012
NOTICE: Links followed by (al) were submitted by the author. Any link appearing, not so designated are attempts to solicte your business.

Clarin Realty, Daly City Short Sale Experts,
You've got the cart before the horse. Too often the price is the only focus regarding the sale of a home. Of equal importance is the goals, needs, of the home owner.
-
Is the home upside down?
Does a sale date urgency exist?
What is the purpose of the sale?
What is the minimal proceeds expected?
Is there a predetermined purpose for these proceeds?
-
Having the goal in mind is helpful in creating the proper strategy most beneficial to the owner. There are many ways to architect a purchase and sale of real estate, but not all agents have such agility.
You failed to share in your question the 'strategy' each of these agents presented. If there was no strategy, except for PPP, don't hire either of them.

As short sale experts, i'm sure you know what I mean.

Best of Success to You.
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041 - http://www.RealEstateMadeEZ.us (al)
0 votes Thank Flag Link Mon Jul 9, 2012
The answer will come from the buying public who will set the market value of your home in the end. My suggestion would be to sit down and review - in detail - the recommendations of both agents, And given the disparity, bring in a third to provide her assessment.

Know that buyer working with an agent worth her salt, will go through the same thorough review in evaluating value and making an offer. A price grounded in the facts of the market, ie comparable CLOSED sales is the best price. Higher than that will likely make you feel good, but will cost you in the end, because overpriced homes do not sell, and generally take much longer and require many price reductions to regain the interest lost from initial mispricing.

I lose my share of listings because of my pricing honesty - and in the end, my pricing recommendations prove to be spot on. Have the third agent come in to get another opinion, be sure you get the details behind the analysis and look at them objectively. Do not be lured by a price over what the analysis supports.

The very best way to get the most for your home is to price it smartly right out of the gate. The sellers that do that generally sell for more, not less, than those that take the other route.

Good luck and best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Mon Jul 9, 2012
If you got along with the Family-Friend Realtor, give her a limited-time listing at the price the other agent suggested.
0 votes Thank Flag Link Mon Jul 9, 2012
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