This is a precarious market. I'm looking for a house in S. CO and it seems the sellers do not want to face the market facts.
2007-01-31 14:08:24 · 5 answers · asked by amy m 1 in Business & Finance ➔ Renting & Real Estate
in my experience, if a house is priced right for the market - the sale price is usually within 4% of the listing price...
2007-01-31 15:07:14 · answer #1 · answered by swampysgirl 2 · 0⤊ 0⤋
The selling price of a property has most likely been chosen by the seller - sometimes they want too much. The real estate agent normally adds their commission to that and that's the price it is advertised for. The best way to go about it is to ask for a CMA from a real estate agent - (Comparable market analysis) That will show you what properties in the same area sold for. It is what real estate agents use to try to get the sellers down with their price if they are over pricing their property. What ever you do don't go by word of mouth figures, get the facts on black and white. The difference beteen the Asking Price & The selling price is than normally the amount the Estate agent is taking for his comm. So what you can do is ask estate agents what persentage do they ask for their comm. From that you can work out what the seller actually wants for his property.
2007-02-01 08:54:00 · answer #2 · answered by Juanita L 2 · 0⤊ 0⤋
NORMALLY!! if a house is listed by a Realtor the price is very close to the actual value.
1. the Realtor is not going to waste their time trying to sell a house that is overpriced.
2. sometimes the seller lists the house based on how much money they need rather than what the house is worth (if the house has been on the market for a long time (6 months or longer) the house is probably overpriced.
3. whether the seller will come down depends on how desperate they are to sell.
NEVER!!! make an offer to test the waters!!! If you make an offer be prepared to buy. making an offer just to see if the seller will bite then coming back and offering less or saying "let me think about it" is the best way to get the Realtor to close the door in your face.-and usually the seller too.
2007-01-31 22:21:06 · answer #3 · answered by dulcrayon 6 · 0⤊ 0⤋
The asking price for a home is a ballpark estimate for how much a buyer should (potentially pay for the property). It is in no way set in stone. If the seller is anxious to sell, it can be negotiated down a fair amount. The selling price of a home is pretty concrete, the market value of a home.
2007-01-31 22:12:04 · answer #4 · answered by markbigmanabell 3 · 0⤊ 0⤋
You're right, they're generally oblivious to the fact that times have changed. I work in northern CA so I can't give you an amount but any real estate agent in your town can tell you the answer. If you're looking to buy and don't have an agent, contact a few and ask them this question. Then choose the one you like the best. (You don't pay them to represent you when you buy property so there's no reason not to get an agent.)
Good luck!
2007-01-31 22:12:57 · answer #5 · answered by operababe_61 3 · 0⤊ 0⤋