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misrasj2, Home Buyer in Washington Township,...

House Hunting in Centerville/Washington Township

Asked by misrasj2, Washington Township, OH Tue Jun 12, 2012

I am currently looking for a home in Washington Township. I have not yet enlisted the help of an agent. I am currently just looking through websites. Once I enlist an agent, I know a market analysis of similar homes in the area is the best approach to use, along with asking for the asking price to sale price ratio. While recognizing that every seller is different and has different goals (e.g., be out quick, hold out for the best price possible, etc.) what is the average percentage mark-up that an agent recommends the seller use (i.e., what is the average percent difference between what a seller asks for and what the seller hopes to actually sell for)? There must be some rule of thumb in this buyer's market. A couple of years ago when I thought I might sell, and an agent came through my home (which is a big fixer-upper) and suggested I place a $119K-$125K figure as the asking price, with the hopes of actually getting about $100K for the property. Any guidance is appreciated!

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Hi. Personally I don't like marking up the price of a house when listing much if any at all. If my client needs to sell in a fairly short amount of time, I always list right around what it's worth. Going and marking it way up, and then having to wait, and start dropping the price is a waste of everyone's time. Sellers may not like hearing that, but when it comes to selling, the sooner you sell, the more money you save/earn in the long run.

I recently sold a beautiful home off of Clyo Rd in Centerville. Sellers let me price it where I told them to, and we had it under contract in 3 weeks :-)

I'd be happy to help you if you are still in the market. I know the area very well. Give me a call, or shoot me an email. There's no obligation to you whatsoever! Thanks!
0 votes Thank Flag Link Sat Nov 2, 2013
Hello house hunter in Centerville. I recently came across your question about rules of thumb. In real estate, you should never use such a thing. Every property is an individual opportunity and the assistance of an experienced and qualified Professional is strongly recommended. I would be happy to help answer any questions you may have about this matter. Please call me if I can help. Good luck.
0 votes Thank Flag Link Fri Aug 23, 2013
Coldwell Banker Heritage offers you the opportunity to set up your own account through http://www.ColdwellBankerHeritage.com and you can totally control the criteria such as location, # of bedrooms, etc., and search for the properties you want. I also have an investor who buys fixer uppers. Just let me know if you want any of this information. Best of luck.
0 votes Thank Flag Link Tue Oct 9, 2012
House hunter, as with most every question, the answer here really is.... "it depends". The rule of thumb for a good property with good value is to set the home price at 3% above the expected selling price and expect the first offer to be around 5% of the asking and to settle in between the 2 prices. When you have a home or client dealing with some other extraneous issues you may want to use a different approach., You may try to list at price where you expect the first offer to be somewhere around 10% below asking and settle around 5% below the original asking price. Of course, the better prepared and informed you and your agent are, the more effectively you can price the home and then more importantly, negotiate the final sell price. Finally, if you do not enjoy negotiating or not much of a risk taker, this can be a somewhat challenging process. So get with a great agent and let them do the heavy lifting for you.
0 votes Thank Flag Link Tue Jun 12, 2012
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