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Agents Differ on Price |
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I have interviewed 3 licensed, experienced realtors about selling my farm. They each want to list the property at vastly differing amounts. The highest "appraisal" is a full 25% higher than the lowest list price recommendation. What do I do? Pay for an appraisal to see which one is closest? Thanks for your time. |
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Frankly, it isn't likely that a paid appraisal will solve your dilemma. No matter how skilled, it too is also an estimate. With a farm, it can be difficult to find enough "comparables" -- recent sales of nearby similar property -- to judge accurately what the buying public's reaction will be to your property. Things are much easier to judge for something like a tract house where there's plenty of buying and selling going on.
If you have lots of time and can take a leisurely approach, you can list at the higher end of the estimates and wait to see if that attracts any attention. If not, you'll drop your price every few months till you find a level that interests buyers. If on the other hand you need to move quickly, you'll have to start closer to the average of the three estimates you already have.
In the end, it's buyers who determine what your place is really worth. |
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Edith
Originally published on May 12, 2008 |
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