There is so much more to consider than 'quoted' price when you are choosing a real estate agent or broker to help you sell your property. A key consideration is 'what is the experience level of the agent that will be handling your proerty?' how did they arrive at the price they quoted to you? Was it a number based on what they thought you wanted to hear, or did they do a detailed market ananlysis, with supporting documentation, to arrive at a price range? Do they have the expertise to analyze the current market and trends that are developing?
Incidentally, you said you have quotes from 3 potential 'brokers'. Do you understand the difference between 'real estate broker' and 'real estate agent or sales person'? An agent is an individual who has taken, and passed, an extensive test on real estate, thereby qualifying to be liscensed as a real estate sales person in that state. PA code required that the new agent must be supervised under a real estate broker, who has responsibility to supervise and oversee that agent and the work they do. A broker has a minimum of 3 years experience in the real estate market, has taken a number of additional courses and then passed the brokers test to be a liscensed real estate BROKER in the state.
That being said, an agent may be very experienced and effective, but it is a question to be asked. Here are some questions that you might ask:: WHat is your experience with this type of property? How long have you been active in marketing real estate? Do you have references? etc.
This is a most important financial decision that you are entering into. Make sure that you have someone on your side who can help you walk thru the problems that may (or should I say always do) crop up.
Best of luck as you move forward.

Vini,

When choosing an agent, price should be the last consideration. Select an agent based on the strength of their marketing program, how well you interact with them and their knowledge of your market.

Establish from the beginning exactly what they will be doing to get your home sold. Vague answers, such as "We will market your home on the internet." are not very useful and border on insulting. Find out what sites the home will be on and how much control the agent has over the listing content. What is the plan for making the home stand out? Online and offline avenues should be discussed and the agent should be able to explain why some stategies are good for you and others may not be good. Get examples of their print advertising and ask the location of one of their listings. You can search online as if you were a buyer and see how well the listing is presented.

After you decide which agent you will choose, then it's time to determine the price. This is your choice. The agent can give you the information and an opinion on where they would price it but the final decision is yours. Consider it feedback if the agent you want doesn't wish to take the listing if it's priced too high. We would suggest in this market to keep away from the top of the price range in order to attract more buyers.

Good luck with the sale of your home!

Whatever the CMA came out to be, price it 95-97% of that. YOu will move it quicker eventhough you will lose some money. It's worth it instead of letting it sit.

You should price your home 5% Lower than the competition. Listen closely to the agent who tells you what you need to hear and not what you want to hear.

Vinni - The importance of this price difference partly depends on the general price range. On a $1 Million home, I think that difference is acceptable because pricing is an art, with science behind it. You still have to account for the overall "feel" of a home which is hard to quantify.
On a $500K home, that difference is much more material. So how I would proceed, partly depends on the actual price range. And also how fast I need to sell. The higer estimate might be right but will almost always take longer to sell.

Vini, Your rapport with the agent is more important than any price they quoted. You set the price not them and if you choose based on price, you are making a mistake. Choose the agent you are most comfortable with and pick whatever price you feel is most accurate from whoever gave that price. You being comfortable with and agent would mean you feel they could do the best job. Again the biggest pool of buyers is what you want. Web presence is so important as most buyers start looking online. It should be a showcase listing on realtor.com, on homes.com, and harmonhomes.com etc. Print adds are ok and should not be skipped as you only need one buyer but the internet is king. Lots of good pictures on the MLS and an accurate description, not just a line or 2 like some agents. The price can always be lowered and should be based on showings and feedback. A local agent is also important, not you cousin's best friend from an hour away. Distant agents are less interested in dropping in to replentish fliers and brochures, take more pictures, do open houses, or even show the home as lots of internet leads come directly to the listing agent. You just don't want to miss opportunites in this market. Good luck.

Ask to see the competing brokers' comps, and ask for an explanation for how they arrived at the asking price. I'm glad you're not jumping at the highest estimate. Some brokers try to "buy" a listing by saying a home can sell for more than the market can bare.

Most brokers want to sell for the highest possible price in the least possible time. Because there's such a range, I'd ask for a follow-up explanation.

Also, you should ask if they factored in For Sale By Owners from the tax records. These aren't found on the MLS, and can have a big impact on your comparative market analyses.

Good luck!! I hope the highest price was the best one!!

Rosie

Hello again Vini,
While each broker may have been far apart on the price they have had different mindsets. I would ask them how they arrived at the value and how long it will take to sell. Please send me an email so that I can advise you on other questions to ask before you make your decision. LeeStiber@kw.com
I look forward to talking to you soon!