2007-03-02 17:00:45 · 5 answers · asked by I Know Nuttin 5 in Business & Finance ➔ Renting & Real Estate
A realtor can "give you their opinion" as to the value of your home, but keep in mind that their "opinion" is based on their own self-interest in selling your home as quickly as possible in order to earn a commission--the quicker the sell, the less expense in advertisement and time (& we all know time is money).
If I sound bitter--I am. I argued with a realtor about the sales price of my home which I thought was too low ($10,000) but gave in because I needed to sell quickly. My home sold in 1 day (some might argue that everything just fell into place--but I will always believe the sales price was too low). Lesson learned--appraisal fee $350; difference between appraised value and sales price--priceless, since I didn't get an appraisal.
2007-03-02 17:55:16 · answer #1 · answered by Anonymous · 1⤊ 1⤋
As previously stated, get a few Realtors to give you their best evaluation. But, ask if they have ran at least 3 comps and made adjustments. Do not accept an average market value. Look for the comp with the fewest adjustments.
If you're not satisfied, or the results are too mismatched, then it may be worth the $300-400 appraiser. Many Realtors or Mortgage Brokers can refer some.
I am an Illinois Realtor®
2007-03-03 02:43:46 · answer #2 · answered by Bob 3 · 0⤊ 0⤋
Do not trust an agent who won't show you the MLS listings, because that agent is looking for a listing and a sale. In other words, many will tell underestimate the value of your home so it sells quickly (money in the agent's pocket). They should be able to show you the MLS listings and what other similar homes in your area have recently sold for, and if they are not willing to do this, move on to the next agent. The only way to truly be sure is by having it appraised. RE agents are NOT appraisers! You also need to do some homework in this area, checking those advertisements the realtors send out telling what homes in your area have recently been listed at and what they have sold for.
2007-03-02 18:04:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Interveiw real estate brokers they will give you a rough estimate
2007-03-02 17:04:52 · answer #4 · answered by floyd 3 · 0⤊ 1⤋
a REALTOR can give you their opinion of value - free of charge!
2007-03-02 17:09:37 · answer #5 · answered by Art 4 · 1⤊ 0⤋