Pre-Listing Appraisal – The Secret to Getting Your Home SOLD
Every year, the top 25% of all Realtors® close nearly 75% of all real estate sales!
These “superstar” salespeople have a secret weapon that helps them close more sales. Their secret to success is that they avoid overpriced listings!
As top listing agents, we encourage sellers to obtain a “pre-listing” appraisal to determine a property’s value before it is listed in the MLS®. More than likely, your first Realtor presented you with a “Comparative Market Analysis” or CMA. This report is made up of information gathered by the Realtor from the local MLS® service. This information does not provide a true market value analysis, that can only be performed by an experienced Certified Appraiser. As you may know, most showings for any home will take place during its first 45 days on the market – when it’s an exciting, new listing!
So, it’s critical that the asking price be razor sharp to the actual value right from the start!
You want your listing to be more competitively priced than most other properties! A pre-listing appraisal will pinpoint the most probable selling price, will identify any condition problems that might add friction to the marketing process and will determine the actual living area of the home.
A pre-listing appraisal also serves as a great marketing and negotiating tool. Top producers leave several copies of the appraisal at each listing so buyers can learn the actual value of the property. This prevents most “low ball” offers. Buyers can look at the appraisal floor plan and photographs to help them remember your listing.
For years we have observed under-trained Realtors® trying to sell over-priced real estate to home buyers! Nothing could be more frustrating for a truly motivated seller.
Let’s face it – many agents will accept a listing at almost any price demanded by the seller. Later, price reductions are suggested because the market “didn’t respond.” After months of frustration, most sellers get angry and seek out another agent who they think can get results!
Many top producers are often the second or third listing agent when the sale is finally closed!
Superstar closers also encourage “pre-listing” appraisals to determine if a seller is really serious! Top producing agents will decline a listing if it appears that the seller isn’t motivated or is merely trying to “test the market.”
By the way, higher asking prices don’t necessarily equate to higher selling prices!
Some Realtors® price homes using the price per foot method. Price per foot tends to underprice the best properties and overprice most others in a neighborhood. Even if a buyer can be convinced to pay too much, the sale will fall through when the mortgage appraiser reports the actual value to the lender. Overpriced properties quickly become “shop worn” and the eventual selling price is often much lower than it would have been if it had been properly valued from the start. Don’t let this happen to you – get a pre-listing appraisal before you list again!!
As you know, the sign of a good product or service is that it solves a problem. It creates that,
“I have to have it” feeling. If you have to have your home SOLD, give us a call. You’ll be happy you did!