Home selling with a family friend

Asked by Alison Hillman, San Francisco, CA Thu Jan 24, 2013

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

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Beatrice M. Stambulski’s answer
Beatrice M.…, Agent, Sherman Oaks, CA
Thu Jan 24, 2013
Hello Alison,

Has your family's Realtor friend suggested as a strategy to possibly underprice the property? What other differences in the two Realtor's approaches to market the home, price may not be the only denominator.

If not, I would be more than happy to assist you with an accurate market value. I know the area very well, have had sales there and provide various lenders with BPOs for Valley Village properties.

Thank you much,

Beatrice Stambulski
Re Max SHOWCASE
DRE Lic # 1335053
(818)480-0776
Beatrice4Sold@gmail.com
2010, 2011 & 2012 Achivement Awards
1 vote
Douglas Lagos, Agent, Los Angeles, CA
Thu Jan 24, 2013
BEST ANSWER
Hi Allison,

Contact one more realtor, then decide. The agents should have advised your parents the reason for the initial listing price.

Agents usually advice sellers as to why a certain price should be listed, and the reasoning, with planning as to what happens if there are no offers within X number of days, etc.
If none of these decision making strategies and planning was provided to your parents, I would definitely check with a realtor that knows what they're doing.

Any question, contact me, or ask on this board.

Douglas Lagos
(310) 463-8088
Realtor, Certified HAFA Specialist
Coldwell Banker Residential
0 votes
Ken Dorfman, Agent, Los Angeles, CA
Thu Jan 24, 2013
I would suggest getting the house appraised. Use the appraisal as a marketing tool, showing justification for pricing with any prospective buyers and as a price setting mechanism with your folks friend. If they give the listing to someone else, they're likley to loose their friend, if they take much less than the house is worth they're going to wind up losing, both their friend, and money...... Just a thought.
Ken Dorfman, Broker
Kenneth B Dorfman, Real Estate
DRE# 675912
Phone 888-846-0688
Email, Ken@TheRealEstateOfiice.Biz
1 vote
Cindy Davis, Agent, San Diego, CA
Thu Jan 24, 2013
The person that isn't their friend. I say this only because in my experience, doing business with friends is a bad idea. In my first yearor two of real estate, i did business with 2 friends who are no longer my friends today. It's just cleaner when you work with someone you don't have a personal connction to!
1 vote
VERY good point!
Flag Thu Jan 24, 2013
SERGEY FEDNOV…, Agent, Beverly Hills, CA
Thu Jan 24, 2013
Please contact me and I'll do independent price evaluation for free - no obligations.

Please call: 424-777-9377




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