I have written numerous articles on how to determine real estate market value, so today I thought I would try a fresh approach on this critically important topic by interviewing one of the top agents in the US.
If you were to ask 1,000 real estate agents around the country for the most common mistake that home sellers make, they would tell you something relating to the asking price of their home.
The fact is most homes on the market are improperly priced and this mistake typically ends up costing the home seller tens of thousands of dollars, as well as ruing the time schedule that the home seller wanted to attain.
Aggravation and loss of money, that's what you get when you try to sell a home that is improperly priced, so continue reading and learn how to avoid the pain.
I have been preaching for years about the need for home sellers to interview multiple agents for the job of selling their homes, so I am going to make it a bit easier and start that process for you right now by reaching out to see what another real estate agent outside of the Tallahassee real estate market has to say. With today's article, you get two agents with more than 50 years of combined experience discussing the home valuation process!
Welcome Bill Gassett
I didn't have to put a lot of thought into who I'd bring in to help us on this issue, as I regularly communicate with the top listing and selling agents in the US.
I reached out to Bill Gassett, a top Milford Massachusetts real estate agent who has been in the business for nearly three decades and I knew that he would offer intelligent guidance.
Bill Gassett: Joe thanks for taking the time to ask for my advice. In real estate, the way a Realtor typically determines market value when selling a home is to prepare what is referred to in the business as a comparative market analysis (CMA). While there are other valuation methods, this is the most common one used when evaluating a typical property.
Me: Perfect. It sounds to me like things aren't so different in real estate markets that are more than 1,000 miles apart.
I hope by providing an outside expert we have been able to communicate this critical issue in a more clear light.
For all of our readers who might be interested in a specific real estate market value, just drop me a note and we'll reach out to you to schedule a time to help you.
Joe Manausa, MBA is a 27 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.