Well, we all have the MLS......

 

Selling a home is more than just entering it into the computerized multiple listing system.  For a discussion of big firm versus small firm see my Size Matters Tab. If your home is input by an Agent into the computerized multiple listing system and it does not sell, what have you accomplished?  When you are interviewing different agents to make a decision with whom you are going to entrust your goal of selling your home, you need to make sure you are getting hard answers to hard questions.  I always say if I ask a square question and get a round answer, "sumthin' ain't right." What is it you want to know when you are selling your home?  First you want to know for how much it is going to sell?  If you over price it, you don't sell your home, in fact you sell your competitor's home, i.e. the other homes against whom you are competing in the multiple listing service.  Most Agents will come with an answer about your home's value but how do you know their answer is correct?  To see why that matters, see my war stories tab and look under Abandon Ship  Contact Me

 

 The Truth, the whole truth and nuthin' but the truth....

 

Why not ask them how they came up with that value?  Every Agent worth having should be able to document how they came up with a value. The Agent should be able to provide you the underlying documentation and their organized formatted analysis of the information contained in their supporting documentation.  You should be able to sit down with their organized formatted analysis, back check their analysis upon the underlying source documents (generally closed sales), and quickly  and easily see how they came up with the value they did.  Every MLS now has the ability to give you a really slick canned program purported analysis.   But if there are no adjustments on it based on factors like size differences, condition differences, amenity differences, utility differences (that is use utility...how something is laid out...not electricity see Brad Pitt Tab), garage differences basement differences, location differences, etc., you have nothing of value.  Here is an example. of one.  It is beautiful, slick.  Has lots of numbers, lots of pictures and tells you absolutely nothing!  Medians, Averages, Hi and Lo Sales tell you nothing worthwhile.  Here is an example of what your agent should be able to do for you.  I prepared this for a client in determining what I should list their property for. Analysis.  Note this is in appraisal format. It is not glitzy, it is not sexy, it is not precanned and produced from some computer algorithm.  It even has misspellings in it.  But it is a hard analysis by me.  Separate categories of a home evaluated sale by sale against your home. I of course provide copies of the mls closed sales as the underlying documentation for the adjustments made. This has adjusted values with an adjusted value range at the bottom of each column. There is analysis, there is methodology capable of verification. It isn't glitzy, it isn't pretty...it is just applied methodology to have something other than a feeling about your home value divined from just looking at closed sales.  I knew that this was a tough home but it was maxed out in terms of what had been done to it and in the New World Order of Appraisals I knew I would have to prove to the Appraiser in his language the sales price was justified.  And I did. He came up with $125,000 and I came up with $135,000.  My clients and I won that battle and got the $10,000 as opposed to letting the deal die or lowering our price!!  You should be able to determine for yourself the reasonableness of their conclusions.     If you can't figure out how your Agent knows what to ask for your home, how do you know you have not made a 5% mistake?  An 8% mistake.  Contact Me.

They input it in the MLS, you get an offer on day 2, and think we are a God!!  Maybe....or maybe you just left $15,000 on the table.  How do you know?  Does it matter to you?.  Is this a hundreds of thousands of dollars transaction or not? Is simply getting it done good enough for you.  Does close count? Or have you given us your trust blindly and hope that on YOUR hundreds of thousands of dollars deal....we know what we are doing somewhere beyond pretty close.  Or did the Agent in that very confidant salesman Agent kind of way sweep you off your feet with worthless slick glitz, charm, and confidence you just confused as skill...or as being meaningful? Or is it a friend and you cannot bring yourself to hold them to professional standards? See Friend Tab. I can produce the canned MLS output in under 5 minutes.  This particular analysis was about 5 hours of work. Did you just get handed a slick piece of NOTHING as underlying support for their bold statement regarding your home's value.  You are the employer, demand more, if you are selling and buying...a 5% mistake between the two transactions just might be $30,000 to $50,000!!  Even within your own market there are sub markets.  And markets sort themselves out in quantifiable ways, there are differences....gut feelings without analysis opens you up to just getting it done as opposed to getting it done right and with the highest amount of money to you. If you are being told as opposed to shown, maybe you should be interviewing other Agents.  Contact Me.

 

For an interesting example of what can happen if you over price see Abandon Ship under my War Stories Tab