When you arrive at the decision to sell your home, the next thing to do is to meet with an agent who will conduct a market analysis to value your property appropriately for the current market.
Here's where it can get tricky as far as pricing is concerned. Not all agents are proficient at pricing. If you decide to call a total of three agents, you are sure to get three different prices.
Yes, they should all be looking at the same competition in the marketplace, and they should all be using a number of comparable sales to arrive at their price, but how is a homeowner to figure out the correct price when three agents give three different answers?
The best price analysis that you can obtain is one where the agent doesn't even have to tell you the price. It should be inherently obvious based upon the information in the report. If it is not, that's probably not the correct price.. That's all there is to it.
An analysis of a few active properties and a few sold homes are really representative of those homes and not of the the overall market in general- especially not your home.
Some agents will inflate their pricing estimate just to get you to sign a listing agreement, because you will be happier with the price. Don't go that route, and be extra careful. If there is not enough information to back up their claim, the price is just pie in the sky, and you shouldn't rely on it.
A thorough analysis is always necessary to obtain a truly accurate value, and if the analysis isn't thorough, it should not be relied upon. Again, it should be obvious or very close to obvious as to what your home should "list" for, and also include data and what the estimated sales price will be. We all have the same information, it's just how hard the agent wants to work to do it properly
If you are ready to sell your home, and want the best reliable and most accurate price, contact me. I will perform a True Market Analysis for you at no cost.
If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.