“I’ve had 3 agents out and they all say my home is worth $700,000 to $720,000, but I know with what I’ve done it’s got to be worth at least $775,000. Is it common for agents to underprice a home to get a quick sale?”
Answer:
No, it’s much more common that if you interview a few agents, one or two will OVERprice your home just to win your business. My guess by the tight range they quoted you is that these agents didn’t under- or over-price your home.
It’s also common for homeowners to over-price their home. Why? Because it’s hard for a homeowner to be objective about his or her own home. They see all the good and the reasons they bought it. And they downplay the not-so-good, much of which they’ve come to accept and now barely notice.
In fact – and this is embarrassing to admit – the last time I sold a home I lived in, I over-priced it by 10%!
Based on what you’re telling me, the odds are you’ll get in the low $700’s. And when you choose the agent to list with, DON’T just choose the one with the highest price as many uninformed homesellers do. Choose the agent with the best track record.
P.S. I try to walk a fine line of giving objective advice and reminding you that I am an active real estate broker here in San Diego. So feel free to call me at (858)457-KENT about selling your home.
