It's time! You have decided to put your home on the market, and of course you want to get the highest price possible. Agents want to get you the highest price possible, too.
BUT....
You must look at the comparables, and past sales history for your town and your style of home, along with a square footage analysis. A detailed analysis will most certainly point to the correct number for the market, but you may not like what the numbers point to, and there are many agents who will tell you what you want to hear, rather than tell you the truth.
They do that to ensure that they will get the listing, and control the sale. The only problem is that if you list with the "highest bidder", your home will not sell, because it will be overpriced for the market. This is a trap that way too many home sellers fall into. That is, listening to the agent and hiring the agent who cannot back up their claim to be able to get you the highest price for your home.
The appraiser that comes out on behalf of the buyer's chosen bank will only look at comparable sales within the last six months. If you or your agent are comparing your home with a sale that happened outside of that six month window, remember, the appraisers will not even consider that. So on the off chance that you do get a buyer for your home at a price that is higher than the market would generally bear, a low appraisal would negate that sale. You have heard of appraisals that come in low? Either the transaction falls apart, or you will have to reduce your price. It becomes a big mess.
When you interview an agent to price your home, remember these facts. the highest price that am agent tells you is not always the correct figure, or most honest one.
If you would like an honest market evaluation, contact me. You can most certainly make future plans with confidence with me.
And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, 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.