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Top producers
encourage sellers to obtain a “pre-listing” appraisal to determine a
property’s value before it is listed in the MLS. 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!
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Your listings will 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.
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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. They can also take the appraisal to their lender for
loan approval without having to wait two weeks for another
appraisal! Since the buyer can take our appraisal to virtually
any lender in the nation to obtain a mortgage, almost all buyers
willingly reimburse sellers for the appraisal fee because of the
time saved! The appraisal costs the seller nothing in that case
and you are in control.
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Since “time kills all deals,” doesn’t it make sense to help the
buyer reduce their mortgage processing time by a couple of
weeks?
Getting an appraisal in advance will do just that! |
I started
selling real estate in 1977 with Sterling Realtors,
so I’ve had the opportunity to help many people market their homes! I
started appraising real estate full time in 1983 and I’ve worked with
thousands of Realtors and homeowners over the last quarter century. We
have also received many awards for appraisal accuracy from national
relocation companies!
For more
than twenty five years, I have observed under-trained Realtors
trying to sell over-priced real estate to unqualified 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 a top producing agent who can get results!
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Many
top producers are often the second or third listing agent when
the sale is finally closed! |
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Superstar closers also encourage “pre-listing” appraisals to
determine if a seller is really serious! |
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If a
seller refuses to pay for an appraisal, he or she will probably
refuse to pay for needed repairs. |
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Top
producing agents decline such listings since 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!
Price per foot tends to under price 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 – insist on a pre-listing appraisal every time!!
As soon as the “for sale” sign is planted in the yard, the property
is no longer the seller’s home.
It is simply another house for sale
in competition with others on the market. Sellers must do everything to
“showcase” their property for the next owner. These days, “allowances”
for repairs or updating don’t work. Homes in great shape will sell for
much higher prices and in less time.
Sellers should eliminate clutter, store excess items in an offsite
storage facility and consider boarding pets elsewhere. The décor of the
home should be made neutral. A professional landscape company should
manicure the outside of the property and the interior of the home should
be cleaned & “detailed” by a company specializing in new home make ready
for builders.
The first step is learning the actual value of what is offered for
sale.
Since the local tax office is usually wrong about the actual
square footage of most homes, the appraisal will determine the home’s
correct living area. An experienced appraiser can also estimate the
increase in value when condition problems are corrected. An accurate
appraisal will also confirm a home’s value for reluctant buyers.
I welcome the opportunity to correctly appraise your property.
Warmest regards,
Lyle F. Gallagher
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