I Have Zillow!
Really? Well let me tell you how a REALTOR prices your home.
They start by checking the Multiple Listing Service on the following:
1 – How much did the property close for?
2 – Were there any concessions?
3 – How many days on the market?
4 – How did it close – financing – cash – owner financed?
5 – Condition – most REALTORS have been in the majority of the houses for sale and know the condition, if not most will ask. Any updates?
6 – What are other conditions that could affect the pricing.
7 – What about location – just because it is ocean front, between the highways or the market sound side – doesn’t mean they are all equal.
In other words, a REALTOR does their homework and can come very close to what an appraiser will appraise your house for at closing.
Where does Zillow get their prices??? Not Sure – Through 3rd parties? They certainly don’t have the information we have.
If you want a competitive price on your home – Call a REALTOR we are here to guide you to a realistic price that can get your home sold or if you are a buyer, make a reasonable offer.
A REALTOR is a professional real estate agent and they are held to a higher level of professionalism. They have a Code of Ethics they live by.
REALTORS have the multiple listing system available, tax records, transfers, and a wealth of knowledge as to how an appraiser values a home.
There are a number of vendors out there that encourage you to use them and then they in turn will use your information to generate leads they sell to agents.
A REALTOR can do a free competitive market evaluation if they have the opportunity to list your property if you decide to sell, but it is not a requirement. REALTORS can do a CMA to let you know where you are to help make sure you are carrying the correct insurance. Carrying excessive insurance does not give you extra coverage. It is based on a formula as to what they pay and there is no refund for overpaying.
I have been a REALTOR on the Outer Banks for over 30 years and I can tell you true stories about people who used information from a vendor, rather than a REALTOR and then decided to do a for sale by owner, “because they had the price their home was worth” and then it sits out there and gets stale. When they finally decide this is not working and work with a REALTOR for a competitive listing price, it gets sold. Most REALTORS will give you a range and of course everyone wants to start high, but we do automatic price adjustments so it does not sit on the market.
It always pays to go with a professional and we are here to help you with a CMA to sell your home, or if you are a buyer, we use a CMA to negotiate a sale price for you. Give us a Call!