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Aug
01
2009

Three Easy Steps for finding a Realistic Value of your Home

Sellers who believe their house is worth more then experts are telling them will never sell their home. That’s right! As much as I believe in home staging, and believe me I do, a home will never sell for an unrealistic value. This point alone has put many sellers in the poor house so reading this chapter is the first step to getting top dollar fast.

Consumers of all products to include real estate are very savvy these days. Over recent years we have all become well educated about buying practices and product values. The Internet has helped a great deal in this area and you can’t fool an educated buyer so I wouldn’t bother to try. It will only waste your time and money.

Here are easy instructions for getting a realistic value on your home.

1.  Consult with a minimum of 3 Realtors.

During this process you will have the opportunity to meet one to one with the Realtors while giving you the added benefit of selecting the one you trust to sell you home. Realtor’s posses the intellectual property needed to accurately price a home. This valuable information will go a long way to starting off on the right foot.

2.  After you have selected your Realtor visit a minimum on 5 properties together to scout the competition.

Take your buyers eye with you during this process and keep emotions out of the equation. Seriously consider what the other homes offer and although there are some things out of your control such as proximity in the neighborhood, electrical poles, train tracks and other uncontrollable factors you will see first hand what buyers will be looking at during a tour of homes in your price range and size competing with you. Make good notes with your Realtor and then return to your home and take the time to make additional notes while still using your buyer’s eye. Take your time in this all important step and take in each room making positive and negative points a buyer will consider in the homes you visit and your own.

3.  Last but not least revisit the price originally obtained with your realtor.

Make adjustments up or down depending on your findings. Again take emotions out of this process.

One of the most common problems a seller experiences when selling a home is the disappointment an unrealistic selling price brings not to mention the expense and anguish a seller experiences while waiting for their home to sell. Doing this exercise in price evaluation will go a long way in avoiding this pitfall.

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