Is Your Realtor® Pricing Your Home High Enough?
As I hit the hot sheet button on my real estate app, I find myself in disbeleif as I notice a listing that is priced 5 to 10% less than the actual market value. I ask myself why and notice that I have never heard of the listing agent. I also notice that the agent does not typically operate in our area. Very frustrated.
We are in the hottest market that I have ever experienced in my 18-year career as a REALTOR®. When a property is listed below the market value, the real estate market as whole takes a significant hit due to the appraised values of comparable homes. There is a signifiant risk when choosing a Realtor® without knowledge of the local market.
I'm not claiming that our pricing strategy at Torrey Smith Realty is always 100% accurate, but we do our best to research other comparable properties, examine cost to rebuild the home, and assess the current supply and demand of competing homes. As a local real estate company with over 40 years of experience in selling real estate in Shelby County, we don't expect to get every listing on the market. In fact, when we don't get the listing, we still find comfort when a homeowner hires a competing local and competent real estate brokerage to sell their home. Most of the time, I can have confidence that the local Realtor® will have a good sense of value which will help our community in having a stable real estate market.
In summary, before you decide to hire a Realtor® to sell your home, please consider a Realtor w/ LOCAL Shelby County knowledge, experience, and who has a vested interest in our local community.
-Torrey Smith, Local REALTOR®