Hi! It is really hard to come up with an accurate price for your home if it is not in a subdivision or area with the same houses. Here in Warrenton the market has been down for a while now, with the price of gas so high and all of the repos. So if you want to price it right to sell fast maybe you can get an appraisal on your house. That would be the most accurate. If you need a name of a good appraiser let me know. I am a full time REALTOR and live in 63383 so if I can be of further assistance please let me know. Good Luck with your home.
There are many factors that go into determining a home's value in your area - lot size, age, home type and condition, updates and above all location. Sometimes a need for selling fast will also have to be factored into the equation - job loss, divorce, pending foreclosure, etc. The realtors should have come up with some of the same homes as each other that they consider to be similar/comparable to yours and then added or subtracted to account for differences when compared to yours. You can see for yourself what the similar homes around you have sold for by checking on my website on the google map search function and then comparing the sold properties there to yours. If you would like another analysis, I would be happy to help - contact me through my web site.
I do not know your local market, but in general homeowners think their homes will sell for more than they actually do.
In order to sell a home there is a process to follow. In many markets most homes are not selling. In a recent office meeting we discussed that about 20% of homes are priced right and sell within a month, leaving the other 80% to sit on the market. You do not want to be in that 80%.
Some Realtors use a strategy of suggesting a higher price so the seller will select them (we use the term "buying a listing"). So look at the comparables that they Realtors used. They should be able to explain how they arrived at the valuation. Remember though, the rule of thumb is you need to list a home plus or minus 2.5% to get it sold within 30 days, so accurate pricing is important because buyers shop in price ranges.
So in aside from 'getting the price" what othe factors are you considering when hiring the Realtor. A great question to ask is "what results do you expect once we hit the market?". And the follow up question is "What are you going to do if we do not realize these results?"