Realtors told us our house should be listed lower than we think. Why is that?

If you’ve spoken to a professional, full time real estate agent who studies the market daily, has reviewed your particular neighborhood and homes like yours in nearby neighborhoods, and is suggesting to you a list price lower than what you have in mind, there’s good reason for it.

While your home may be worth every penny that you think it’s worth, the buyers in the marketplace have to determine that for themselves. Such buyers and their agents will be looking at the same things your listing agent is reviewing: recent sales similar to yours and your immediate competition on the market.

While neither is a full picture alone, the combination of what has sold and what you are up against at this time will give you an accurate picture of what today’s buyer would be willing to pay, regardless of your original purchase price, or the cost of additions, updates, repairs, etc., that you have put into your home.

In addition, even after you have a contract with a buyer, their appraiser, too, will be looking at the previous sales like yours, and if not enough have sold recently to support your price, you won’t get the appraised price you are looking for either.

Bear in mind that no matter what price you paid for stock you bought on the market, you can only sell it today for today’s price. The same thing applies for the price of your home.

A HOME IS WORTH WHAT THE BUYER WILL PAY!!

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